Swedish households set a new wealth record during the second quarter, according to SEB's Savings Barometer.
"The increase was driven primarily by a positive stock market development and significant new savings. Households' debt-to-equity ratio decreased slightly during the quarter as a result of assets increasing more than household debt. The interest rate ratio also decreased after rising sharply for nearly two years," SEB writes in a press release.
Households' net wealth increased by SEK 587 billion or 2.6 percent during the quarter and amounted to SEK 23,491 billion at the end of the quarter.
Gross wealth rose by SEK 609 billion to a record high of SEK 28,772 billion.
