Sweden's economic sentiment strengthened in June to the highest level in five months, while consumers expressed a less pessimistic outlook, survey results published by the National Institute of Economic Research showed on Friday.
The economic tendency index rose to 101.7 in June from 99.9 in May. Moreover, the index remained above the normal level of 100.
The rise in June was explained almost entirely by an improvement in sentiment within the manufacturing industry, with the corresponding index rising to 105.1 from 101.4 in May. Moreover, this was the highest level since December 2022, as fewer firms than previously report excessive stock levels, and their assessment of order books over the past three months also improved.
The morale for the service sector rose to 101.9 from 101.5, while that for the trade sector eased to 105.8 from 109.1.
Confidence among consumers remained slightly less pessimistic in June, with the respective index rising to 93.6 from 92.8. Households' perceptions of the Swedish economy improved, both compared with 12 months ago and in expectations over the coming 12 months.
