Sweden Business Confidence Hits 4-Year High

Sweden’s business confidence indicator rose for a sixth consecutive month to 109.3 in September 2026 from a slightly upwardly revised 107.5 in August, marking the highest reading since May 2022 and moving further above its historical average of 100. The increase points to a continued strengthening in the overall business mood, while demand conditions were unchanged at -18, remaining close to the historical average. Companies reported a slight increase in employment over the past three months (2 vs -2 in August). Hiring plans also strengthened, with the employment outlook for the next three months (7 vs 6) pointing to further workforce growth, although plans remained stronger than normal in manufacturing and construction and weaker than normal in trade. Meanwhile, firms’ expectations for sales prices edged up to 22 from 21, indicating that price increases remain more widespread than normal across all sectors.

Sweden’s business confidence indicator climbed to 107.4 in July 2026 from a slightly upwardly revised 106.4 in the previous month, marking the highest level since June 2022. The increase points to a stronger-than-normal business mood, although changes across sectors remained small. Demand conditions were unchanged at -17, remaining broadly in line with the historical average, while companies reported a decline in employment over the past three months, with the net figure at -3. However, hiring plans strengthened (6 vs 4 in June), pointing to an increase in workforce levels over the next three months. Meanwhile, firms’ expectations for sales prices remained elevated, with the net figure edging up to 21 from 20, indicating that companies anticipate price increases to a greater extent than normal.

Sweden’s business confidence indicator was unchanged at 103.6 in June 2026, remaining above the long-term average of 100 and continuing to signal stronger-than-normal business sentiment. Demand conditions improved slightly (-20 vs -23 in May), though it remained below normal levels, indicating weaker-than-usual demand. Labor market conditions softened, as companies reported a larger decline in employment over the past three months (-5 vs -2). Looking ahead, firms expect staffing levels to remain broadly unchanged over the next three months (0 vs 1). Meanwhile, companies continued to anticipate higher sales prices over the coming three months, although price expectations moderated (20 vs 24). Survey responses also indicated that firms remain more dissatisfied with demand conditions than normal, while sentiment toward demand was broadly in line with normal levels in the manufacturing and trade sectors.