Sweden Economic Tendency Indicator

Sweden’s Economic Tendency Indicator increased for a fourth straight month to 105.1 in August 2026 from a downwardly revised 104.6 in the previous month, marking the highest level since June 2022. The reading signaled a stronger-than-normal business climate. All retail subsectors reported stronger or much stronger sentiment than normal (117.6 vs 115.6), with the most positive signals coming from the durable consumer goods trade. The manufacturing confidence indicator declined marginally (107.1 vs 107.5), as firms' assessments of current order books and stocks of finished goods weakened. Meanwhile, the confidence indicator for construction declined in August but continued to indicate a normal level of sentiment (98.0 vs 99.2). Business price plans increased in manufacturing and construction, while marginal declines were recorded in the retail and services sectors. However, manufacturing is the only sector in which price plans remain significantly above normal.

Sweden’s Economic Tendency Indicator rose for a third straight month to 104.7 in July 2026 from an upwardly revised 102.1 in the previous month, marking the highest level since June 2022. The reading signaled a stronger-than-normal business climate, led by manufacturing, which climbed to 107.9 from 105.2 as firms reported more optimistic production plans and stronger order intake in both domestic and export markets. Retail sentiment (112.9 vs 106.5) surged to the highest since March 2022, driven by stronger sales expectations and assessments of current trading conditions. Construction confidence (99.4 vs 97.6) returned to normal level on improved hiring and order book expectations, while services edged up (102.5 vs 102.3). Household confidence also improved (97.1 vs 94.2) as consumers became less pessimistic, though it remained below normal. Meanwhile, business price plans stayed above normal, especially in manufacturing, while inflation expectations for the year ahead eased.

Sweden’s Economic Tendency Indicator climbed to 101.7 in June 2026 from an upwardly revised 99.9 in the prior month, marking the highest print since July 2022. Manufacturing confidence hit its highest since December 2022 (105.1 vs 101.4 in May), as all components strengthened, notably inventories, with fewer firms reporting excess stock, while order books improved in both domestic and export markets. Services sentiment edged up (101.9 vs 101.5), lifted by professional activities, while consumer mood rose modestly (93.6 vs 92.8) but stayed below normal. In contrast, construction sentiment slipped (97.3 vs 99.4), reflecting revised employment plans. Retail trade eased (108.4 vs 110.5), though it remained the strongest sector overall. Price plans eased across industries, with fewer firms intending to raise prices, yet levels stayed above normal. Manufacturing was the only sector where price plans remained elevated, while construction and retail declined, and services were unchanged.