Sweden: Economic sentiment hits new all-time high in July
The economic tendency indicator (ETI) rose to 122.4 in July from June’s 119.8 and once again marked the strongest sentiment in the indicator’s 25-year history. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The rise in July was driven by an improvement in manufacturing, retail and services sub-sectors. Meanwhile, the consumer confidence sub-indicator dipped to 106.5 in July from 109.3 in June, while contrastingly, the business confidence sub-indicator increased to 122.9 from 118.9 in the month prior.