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.