2025年5月，瑞典生产者价格指数同比下降2.8%，较上月2.4%的跌幅有所加深，标志着连续第三个月出现通货紧缩。这是自2023年12月以来的最大跌幅，主要是由于资本货物价格（-3.0%对4月的-1.0%）和中间产品价格（-4.0%对-1.2%）的大幅收缩。与此同时，消费品通胀保持温和（0.1%对1.8%）。与此同时，能源相关产品的价格继续下跌，但速度较慢（-2.3%对-13.4%），缓解了一些下行压力。不包括能源相关产品，生产者价格指数下跌2.9%，跌幅大于4月份0.6%的跌幅。按月计算，生产者价格系数下跌0.5%，较4月份1.6%的跌幅有所缓和，为三个月来最温和的跌幅。

Producer prices in Sweden dropped 2.8% year-on-year in May 2025, deepening from a 2.4% fall in the previous month and marking the third consecutive month of deflation. This was the steepest decline since December 2023, primarily driven by sharper contractions in capital goods prices (-3.0% vs -1.0% in April) and intermediate goods (-4.0% vs -1.2%). Meanwhile, inflation in consumer goods remained subdued (0.1% vs 1.8%). Simultaneously, prices of energy-related products continued to decline but at a slower pace (-2.3% vs -13.4%), easing some downward pressure. Excluding energy-related products, producer prices shrank 2.9%, a sharper fall than a 0.6% decrease in April. On a monthly basis, the producer price index slipped 0.5%, easing from a 1.6% drop in April and marking the mildest fall in three months.

瑞典生产者价格指数（月环比）：-0.5%（5月）对-1.6%。瑞典生产者价格指数（月环比）：-0.5%（5月）对-1.6%

Sweden Producer Price Index (MoM): -0.5% (May) vs -1.6%.Sweden Producer Price Index (MoM): -0.5% (May) vs -1.6%

瑞典的商业信心从5月份向下修正的98.4降至2025年6月的94.8，表明企业信心低于正常水平。这是自去年10月以来的最低水平，所有行业的信心都在下降，最明显的是贸易。公司的需求前景恶化（-31比5月的-27），仍然弱于正常水平，尤其是在零售业，许多公司报告称目前的销售情况不佳。此外，虽然招聘计划略有减弱（-1比1），表明未来三个月劳动力稳定，但上一季度员工人数有所下降（-6比-3）。与此同时，预计销售价格的涨幅将低于5月份（14比20），服务和贸易有所增加，但制造业，尤其是机动车和建筑业有所下降。

Sweden’s business confidence dropped to 94.8 in June 2025 from a downwardly revised 98.4 in May, signaling a weaker-than-normal sentiment among businesses. This marked the lowest reading since last October, with confidence falling across all sectors, most notably in trade. Companies’ demand outlook deteriorated (-31 vs -27 in May) and remains weaker-than-normal, especially in the retail sector, where many report poor current sales situation. Additionally, While hiring plans weakened slightly (-1 vs 1), pointing to a stable workforce over the next three months, employee numbers declined over the past quarter (-6 vs -3). Meanwhile, sales prices are expected to rise less than in May (14 vs 20), with increases in service and trade but declines in manufacturing, especially motor vehicles, and construction.

瑞典消费者信心指数从5月份上调的83.6升至2025年6月的84.6。这标志着三个月来的最高读数，因为消费者在过去12个月（-2.6对-3.1）和未来12个月内对经济的悲观情绪略有下降（-1.5对-2.4）。与此同时，对当前家庭财务状况的看法略为负面（-3.6对-3.4），而对未来一年的预期保持不变（-3.5）。对未来12个月重大采购的态度也保持稳定（-4.1）。家庭继续预计未来一年失业率将比平时上升更多，个人失业风险略有上升。未来一年的通胀预期从5月份的8.9%降至6月份的8.6%，尽管目前的通胀率仍为15.7%。

Sweden’s consumer confidence indicator rose to 84.6 in June 2025 from an upwardly revised 83.6 in May. This marks the highest reading in three months, as consumers became slightly less pessimistic about the economy over the past twelve months (-2.6 vs -3.1) and the next twelve months (-1.5 vs -2.4). Meanwhile, views on current household finances became slightly more negative (-3.6 vs -3.4), while expectations for the year ahead remained unchanged (-3.5). Attitudes toward major purchases over the next twelve months also held steady (-4.1). Households continue to expect unemployment to rise more than usual over the coming year, with a slightly elevated perceived risk of personal job loss. Inflation expectations for the year ahead fell to 8.6% in June from 8.9% in May, though current inflation is still perceived at 15.7%.