Sweden: Economic sentiment picks up in May
Economic sentiment rose to 95.0 in May from April’s 94.3. May’s result marked the best performance since August 2022. As a result, the index moved closer to, but remained below, the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected healthier confidence in the services sector in May. Moreover, consumer sentiment was up in May. Less positively, sentiment in the industrial sector weakened and sentiment in the construction sector deteriorated. Lastly, confidence in the retail sector weakened in the surveyed month.
Considering indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index fell in May.