The Swedish economy is in even deeper waters, according to the Statistics Sweden's (SCB) business cycle clock. The business cycle situation is "very weak", writes SCB.
In June, ten out of twelve indicators were below their long-term trend. And despite the lower inflation, households' consumption continues to decrease, according to SCB.
"The Swedish economy is stuck. The activity was in June 2024 at the same level as in June 2022", says Caroline Ahlstrand, national economist at SCB, in a press release.
