Sweden’s consumer morale highest since February 2022

Consumer confidence in Sweden has reached its highest level since February 2022 in May, the latest data by the National Institute of Economic Research showed.

The consumer confidence indicator in the country was reported at a reading of 91.3 in May, up from 88.8 in the preceding month.

In the meantime, consumers’ optimism about the 12-month outlook for the general economic situation (with the respective gauge being at 17) and financial situation (the gauge also at 17) remained unchanged.

Consumers’ assessments for saving propensity improved in May, with the respective gauge rising to 47 from 45 in April.

Also, consumers were less pessimistic about making costly purchases in the upcoming 12 months, with the respective gauge rising to -19 from -23 in April.

The Swedish Krona was last 0.18% stronger on the day against the Euro, with the EUR/SEK currency pair trading at 11.4932.

The exotic Forex pair was hovering above a fresh seven-week low of 11.4484, which it registered on Tuesday.