Sweden: Economic sentiment rebounds in April, signaling renewed momentum at the start of Q2
The economic tendency indicator rebounded in April to 110.4, up from the upwardly-revised 108.8 reading in March (previously reported: 108.4). Economic sentiment thus ended a four-month streak of declines, although it had remained elevated throughout that period. Values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal.
The rebound in April came largely on the back of improving conditions in manufacturing, which benefitted from an improved short-term production outlook, and a welcome bout of optimism in the construction sector. On the other hand, confidence in the retail sector fell sharply on lower expected sales volumes in the coming months, while consumer sentiment declined marginally but remained around its historical average.