Swedish economy continues to grow

There is a continued good momentum in the Swedish economy. The National Institute of Economic Research´s economic tendency indicator rose in May after a decline in April. Households now expect mortgage rates to be over 5 per cent in both two and five years time. In May, the economic tendency indicator of the National Institute of Economic Research (NIER) rose to 121.4. This is an increase of two units from April, indicating that the situation is "very strong". The indicator average is 100 and the record level is 115.4. The main reasons for the increase was a rebound in the confidence indicator for the manufactoring industry, which rose three points, after a decline of four in April, and increased optimism among households. Full article is available here.

Source: Stockholm News, May 2011