Sweden: Economic sentiment picks up in June but remains downbeat
June 24, 2020
The economic tendency indicator rebounded to 75.2 in June from 64.4 in May. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The improvement in June was felt across the board, with the consumer confidence sub-indicator rising to 84.0 from 77.7 and the business confidence sub-indicator rising to 68.6 from 58.9.
Nevertheless, by historical standards, the overall reading for June remained noticeably subdued; over the past decade, the economic tendency indicator averaged 102.0.
Author: Edward Gardner, Economist