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Sentiment Improves In June, But Riksbank In Focus

SWEDEN
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The Swedish June Economic Tendency Indicator saw a broad-based increase in sentiment across industries. Expected pricing plans remained close to long-term averages, supporting the Riksbank’s assessment that inflation has normalised.

  • Focus remains on the Riksbank decision at 0830BST. Our preview is here.
  • The headline Tendency Indicator rose to 96.3 (vs 94.0 prior). This was the highest level since August 2022, but the series remains in contractionary territory (100 is neutral).
  • Notably, services sector expected employment saw a 6 point increase to 14 (vs 8 prior), which is above the long-term average.
  • Retail sentiment saw the largest increase in June, rising to 98.6 (vs 92.6 prior). The release notes that “The recovery can be explained mainly by positive signals about sales in recent months and by more companies reporting low stock levels”.

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The Swedish June Economic Tendency Indicator saw a broad-based increase in sentiment across industries. Expected pricing plans remained close to long-term averages, supporting the Riksbank’s assessment that inflation has normalised.

  • Focus remains on the Riksbank decision at 0830BST. Our preview is here.
  • The headline Tendency Indicator rose to 96.3 (vs 94.0 prior). This was the highest level since August 2022, but the series remains in contractionary territory (100 is neutral).
  • Notably, services sector expected employment saw a 6 point increase to 14 (vs 8 prior), which is above the long-term average.
  • Retail sentiment saw the largest increase in June, rising to 98.6 (vs 92.6 prior). The release notes that “The recovery can be explained mainly by positive signals about sales in recent months and by more companies reporting low stock levels”.