Sweden: Economic sentiment remains downbeat, despite further improvement in July
The economic tendency indicator climbed to 83.4 in July from June’s 75.3. Nevertheless, the indicator remains below 100, which signals weaker economic growth than normal.
The business confidence sub-indicator jumped to 80.7 in July from 68.9 in June. However, July’s improvement was not broad-based, as the consumer confidence indicator fell to 83.3 from June’s 84.1.
Despite the rise of the indicator, by historical standards, the overall print for July remained downbeat; over the past decade, the economic tendency indicator averaged above 100.