Sweden: Economic sentiment picks up in May
The economic tendency indicator (ETI) rose to 110.5 in May from April’s 109.4. As such, the index moved further above the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The rise came on the back of an improvement in the manufacturing and retail subsectors confidence indicators. Meanwhile, the business confidence subsector indicator rose to 115.1 in May, up from April’s 114.5. Conversely, the consumer confidence sub-indicator fell to 70.4 in May, down from the prior month’s 74.5.