FX.co ★ Sweden Business Confidence Holds Firm in May

Sweden’s business confidence indicator was broadly stable in May 2026, edging down to 103.3 from 103.5 in April. Remaining above the 100 threshold, it continues to signal stronger‑than‑normal business sentiment. However, demand conditions stayed weak: the demand indicator slipped to -24 from -23, remaining well below historical averages.

Employment developments were largely steady. Firms reported only a marginal decline in staffing over the past three months (-1 compared with -2 previously), while hiring expectations for the coming three months eased to 1 from 3, indicating a broadly unchanged outlook for overall employment. Construction was the only sector anticipating job growth going forward.

By contrast, pricing intentions strengthened markedly. Expected sales prices for the next three months jumped to 23 from 16, the highest level among the surveyed indicators. This increase was especially pronounced in the grocery trade, partly reflecting price adjustments following the reduction in VAT on food introduced in April.