Sweden: Economic sentiment tentatively picks up in May
The economic tendency indicator picked up to 64.1 in May from a revised 60.0 in April (previously reported: 58.6), which marked the lowest reading since for as long as current records stretch back to 1996. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The improvement in May was driven by less pessimistic business confidence. Moreover, consumer confidence picked up as consumers became less downbeat about their finances, although their sentiment regarding the state of the economy worsened.