Sweden: Economic sentiment turns less sour in May
Latest reading: Economic sentiment rose to 95.3 in May from April’s 93.3. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected stronger sentiment in the industrial and construction sectors as well as among consumers. In addition, confidence in the retail sector was up in the surveyed month. Less positively, confidence in the services sector deteriorated in May.
Relating to indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index decreased in May.