The Swedish economy is characterized by a continued subdued mood. The National Institute of Economic Research's (NIER) business cycle indicator was virtually unchanged in May at 94.6 compared to 95.0 in April and 94.7 in March.
A positive factor is that the decline in the households' confidence indicator, which had been falling for a longer period, is now instead pointing slightly upwards. The household sector is, however, still the sector where the mood is weakest, writes NIER on its website.
"Households have, despite the upturn in May, still a very pessimistic view of their own as well as the Swedish economy. Households' view of how suitable it is to buy capital goods at present is still unusually negative", writes NIER.
