The Economic Tendency Indicator climbed 8.1 points in July from 75.3 to 83.4, but this is still a very low level. All sectors except consumers contributed to the improvement, which was chiefly a result of less pessimistic expectations.

The confidence indicator for the manufacturing industry rose further in July, thanks once again to production expectations. The indicators for both capital and consumer goods producers are now close to their historical averages.

The indicator for the building and civil engineering industry gained almost 3 points as a result of stronger expectations for orders.

The confidence indicator for the retail trade jumped no fewer than 11 points in July, thanks mainly to decreased dissatisfaction with stock levels.

The confidence indicator for the service sector also rose strongly but remains historically low. As in previous months, the improvement was due to a less negative view of the demand outlook.

The consumer confidence indicator fell marginally in July and remains at very low levels. The decrease was due primarily to a more negative view of whether now is a good time to make major purchases, but also to a more negative view of the current state of the Swedish economy.

  May 2020 June 2020 July 2020 Diff
Economic Tendency Indicator 64,8 75,3 83,4 8,1
 Manufacturing 77,0 89,3 95,7 6,4
Building and civil engineering 89,1 89,8 92,6 2,8
Retail trade 76,7 85,7 96,7 11,0
Private service sectors 54,1 61,9 73,3 11,4
Consumer 77,5 84,1 83,3 -0,8
Microindex Consumer 81,0 87,5 88,6 1,1
Macroindex Consumer 76,8 84,7 84,1 -0,6


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For further information: Fredrik Johansson Tormod, Head of Economic Tendency Surveys +46 8 453 59 70

Konjunkturinstitutet tar fram prognoser som används som beslutsunderlag för den ekonomiska politiken i Sverige. Vi analyserar den ekonomiska utvecklingen både i Sverige och internationellt och bedriver forskning med anknytning till detta. Institutet, som grundades 1937, är en statlig myndighet under Finansdepartementet. I likhet med andra myndigheter har KI en självständig ställning. Vårt analysarbete och forskning bedrivs utan politisk hänsyn. Vi är cirka 60 anställda.


Sarah Hegardt Grant


08-453 59 11