瑞典10年期国债 (Sweden10Y) 加自选

瑞典银行制造业采购经理人指数从上个月向下修正的51.8上升至2025年7月的54.2。这是自2022年5月以来的最高读数，与该指数54.3的历史平均值大致一致。最大的积极贡献来自订单分类指数（6月份为56.2比48.8），其次是供应商的交货时间（53.1比50.7）和库存采购（46.4比47.5）。然而，生产（54.8比55.6）和就业（51.7比52.1）的分项指数呈负增长。与此同时，制造业企业的生产计划仍然乐观，该指数从62.8升至63.6。供应商原材料和投入品价格指数从50.4小幅降至50.3，表明该行业的价格压力仍然疲软。负责PMI分析的Jörgen Kennemar警告称，围绕全球贸易政策的不确定性仍然存在，就像瑞典工业的湿毯一样，未来有可能出现挫折。

Sweden’s Swedbank Manufacturing PMI increased to 54.2 in July 2025 from a downwardly revised 51.8 in the previous month. This marked the highest reading since May 2022 and was broadly in line with the index's historical average of 54.3. The largest positive contribution came from the sub-index for incoming orders (56.2 vs 48.8 in June), followed by suppliers' delivery times (53.1 vs 50.7) and inventory purchases (46.4 vs 47.5). However, the sub-indices for production (54.8 vs 55.6) and employment (51.7 vs 52.1) contributed negatively. Meanwhile, manufacturing companies' production plans remained optimistic, with the index rising to 63.6 from 62.8. The index for suppliers' raw and input prices edged down to 50.3 from 50.4, indicating that price pressures in the sector remain subdued. Jörgen Kennemar, responsible for the PMI analysis, warned that uncertainty surrounding global trade policy remains and lies like a wet blanket over Swedish industry with a risk of potential setbacks ahead.

瑞典消费者信心指数从前一个月向上修正的84.9跃升至2025年7月的90.7，为2月以来的最高水平。这一回升是广泛的，所有子指数都有所上涨。值得注意的是，无论是从过去12个月的发展情况还是对未来一年的预期来看，人们对家庭自身财务状况的看法都显著增强。

Sweden's consumer confidence indicator jumped to 90.7 in July 2025 from an upwardly revised 84.9 in the previous month, marking the highest reading since February. The upturn was broad-based, with all sub-indices posting increases. Notably, sentiment regarding households’ own financial situation strengthened significantly—both in terms of developments over the past twelve months and expectations for the year ahead.

瑞典经济趋势指标从6月份的15个月低点92.7升至2025年7月的94.3。消费者信心急剧上升，从6月份的84.9攀升至90.7，这是自1996年该系列开始以来的第二大月度增长，所有子组成部分都有所改善。尽管消费者中出现了这种积极的发展，但它仍然是整体情绪最弱的行业。与此同时，商业信心有所改善（6月份为97对95），尤其是零售业（102.1对98.2）和服务业（96.4对93.3）。然而，制造业（96.3比98.7）和建筑业（97.7比98.6）的信心减弱。

The Economic Tendency Indicator for Sweden rose to 94.3 in July 2025, from a fifteen-month low of 92.7 in June. Consumer confidence saw a sharp increase, climbing to 90.7 from 84.9 in June—the second-largest monthly increase since the series began in 1996—with improvements across all sub-components. Despite this positive development among consumers, it remains the sector with the weakest sentiment overall. At the same time, business sentiment improved (97 vs 95 in June), particularly in the retail (102.1 vs 98.2) and services (96.4 vs 93.3) sectors. However, confidence weakened in the manufacturing (96.3 vs 98.7) and construction (97.7 vs 98.6) sectors.

2025年6月，瑞典零售额同比增长2.5%，从前一个月向上修正的1.9%的下降中反弹。复苏主要得益于耐用品销售额的大幅增长，在5月份下降1.5%后，耐用品销售额增长了5.3%。相比之下，消耗品销售额继续下降，在之前下降1.4%后下降了1.1%。按月计算，零售额增长2.4%，从5月份向下修正的4.6%的跌幅中大幅回升，创下2024年12月以来的最大月度涨幅。在4月至6月期间，零售额与前三个月（1月至3月）相比下降了0.6%。

Retail sales in Sweden rose by 2.5% year-on-year in June 2025, rebounding from an upwardly revised 1.9% decline in the previous month. The recovery was largely driven by a sharp increase in durable goods sales, which rose 5.3% after falling 1.5% in May. In contrast, sales of consumables continued to decline, down 1.1% following a 1.4% drop previously. On a monthly basis, retail sales grew by 2.4%, sharply recovering from a downwardly revised 4.6% fall in May and marking the strongest monthly gain since December 2024. Over the April–June period, retail sales decreased by 0.6% compared to the preceding three-month period (January–March).