Swedish firms see best outlook in four years

Sweden’s largest companies have turned more confident about demand, but their brighter outlook has not yet translated into broad hiring plans.

In the Riksbank’s August survey, large companies put overall business conditions above the historical average for the first time since September 2022. The survey covered 40 companies employing about 220,000 people and was conducted from 20 to 31 August.

Retailers and hospitality businesses reported stronger sales and more consumer demand. Business-to-business firms pointed to defence, data centres and the energy transition as areas of strength.

Companies said higher fuel and material costs linked to the Middle East conflict remained manageable. Business-to-business firms expected price increases broadly in line with normal patterns, while grocery retailers were not planning increases.

The labour-market signal is more cautious. Fewer companies expect to cut staff, yet many still plan to leave vacancies unfilled rather than replace departing workers.

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