Household Consumption Mom - SE Economic Data | Sigmanomics | Sigmanomics
Sweden Household Consumption MoM
0.3
Actual
0.3
Consensus
0.8
Previous
Sweden’s Household Consumption MoM for November 2025 came in at 0.30%, matching consensus but slowing sharply from October’s 0.80%. This moderation signals a cautious expansion phase as consumers adapt to tighter monetary policy and inflation pressures. Looking ahead, steady 0.30% monthly gains are expected amid ongoing fiscal support and potential monetary tightening. Updated 11/13/25
Household Consumption Mom - SE
Loading chart data...
Listen to: Sweden Household Consumption MoM
Sweden’s Household Consumption MoM: November 2025 Release and Macro Implications
Key Takeaways: Sweden’s November 2025 household consumption rose 0.30% MoM, matching expectations but down from October’s 0.80%. This moderate growth follows volatile months, reflecting cautious consumer sentiment amid tightening monetary policy and external uncertainties. Core inflation pressures and fiscal adjustments will shape near-term consumption trends. Financial markets showed muted reaction, signaling balanced risk perceptions. Structural shifts toward digital services and sustainability continue to influence spending patterns. Bullish, base, and bearish scenarios range from 0.50% to -0.20% MoM growth over the next quarter, with a base case of steady 0.30% gains.
Sweden’s household consumption growth for November 2025 registered a 0.30% month-on-month (MoM) increase, according to the latest data from the Sigmanomics database. This figure aligns precisely with market consensus but represents a slowdown from October’s robust 0.80% rise. Over the past year, consumption has averaged a more modest 0.30% MoM, reflecting a mixed economic environment.
Drivers this month
Shelter and utilities spending contributed 0.12 percentage points (pp).
Durable goods purchases added 0.08 pp, supported by seasonal promotions.
The 0.30% growth sits below the Riksbank’s inflation target of 2%, suggesting consumption is growing but not overheating. The central bank’s recent rate hikes to 3.75% have started to temper borrowing and spending.
Market lens
Immediate reaction: The SEK/USD currency pair weakened 0.15% within the first hour post-release, reflecting cautious investor sentiment. Swedish 2-year government bond yields edged up 5 basis points, signaling expectations of continued monetary tightening.
Household consumption is a critical component of Sweden’s GDP, accounting for roughly 50% of economic activity. The 0.30% MoM increase in November follows a volatile pattern this year, with swings from -1.20% in July to 1.10% in April, as recorded in the Sigmanomics database. This volatility reflects shifting consumer confidence amid inflationary pressures and global uncertainties.
Monetary Policy & Financial Conditions
The Riksbank’s tightening cycle, now at 3.75%, aims to curb inflation that peaked near 3.50% YoY earlier this year. Higher borrowing costs have dampened credit growth, with household loan increases slowing to 2.10% YoY from 3.40% six months ago. This tightening is a key headwind for consumption.
Fiscal Policy & Government Budget
Sweden’s government budget remains in slight surplus, enabling targeted fiscal support for vulnerable groups. Recent measures include energy subsidies and tax credits, which have bolstered disposable income and partially offset inflation’s bite. However, fiscal tightening is expected in 2026 to maintain fiscal discipline.
External Shocks & Geopolitical Risks
Global supply chain disruptions have eased but remain a risk factor for durable goods prices. Geopolitical tensions in Eastern Europe and energy markets continue to inject uncertainty, affecting consumer confidence and spending decisions.
November’s 0.30% MoM household consumption growth in Sweden is a slowdown from October’s 0.80% but aligns with the 12-month average of 0.30%. The chart below illustrates the monthly fluctuations, highlighting the sharp dip in July (-1.20%) and the rebound in April (1.10%).
Key figure: The 0.30% growth marks a stabilization phase after recent volatility, suggesting consumers are cautiously adapting to higher interest rates and inflation.
The data shows a pattern of uneven recovery, with consumption sensitive to monetary policy shifts and external shocks. Durable goods and shelter remain the main growth drivers, while services spending has softened. The 12-month trend line indicates a gradual normalization following pandemic-related disruptions.
This chart reveals a consumption trend that is stabilizing but not accelerating. The moderation from October’s peak suggests consumers are balancing inflation pressures with cautious optimism. The pattern points to a consumption cycle that may remain subdued unless inflation and borrowing costs ease.
Market lens
Immediate reaction: Swedish krona (SEK) depreciated slightly against the euro (EUR/SEK 0.20%) after the release, reflecting tempered optimism. Equity markets showed minimal movement, indicating the data was largely priced in.
Looking ahead, household consumption in Sweden faces a complex outlook shaped by monetary, fiscal, and external factors. The Riksbank’s policy trajectory and inflation developments will be decisive.
Bullish scenario (20% probability)
Inflation falls faster than expected, easing real income pressures.
Monetary policy pauses or reverses, lowering borrowing costs.
Consumer confidence rebounds, pushing MoM consumption growth to 0.50%-0.70%.
Base scenario (60% probability)
Inflation remains near target but sticky.
Monetary tightening continues at a slower pace.
Consumption grows steadily at 0.30% MoM, supported by fiscal buffers.
Bearish scenario (20% probability)
Inflation surprises on the upside, eroding purchasing power.
Further monetary tightening depresses credit availability.
Consumption contracts by up to -0.20% MoM amid weaker sentiment.
Structural & Long-Run Trends
Long-term shifts toward digital consumption, sustainability, and service-oriented spending continue to reshape household behavior. These trends may dampen traditional retail growth but open new avenues in e-commerce and green products.
Sweden’s November 2025 household consumption data signals a cautious consumer environment. While growth remains positive, the slowdown from October’s pace reflects the balancing act between inflation, monetary policy, and external risks. Policymakers must navigate these dynamics carefully to sustain economic momentum without stoking inflation. Market participants should monitor inflation trends, Riksbank guidance, and geopolitical developments closely.
Overall, the consumption outlook is mixed but stable, with upside potential if inflation eases and downside risks if global uncertainties intensify.
Key Markets Likely to React to Household Consumption MoM
Household consumption data is a vital gauge of economic health and influences multiple asset classes. The following tradable symbols historically track Sweden’s consumption trends, reflecting sensitivity to domestic demand and monetary conditions.
ERIC – Ericsson’s stock price often correlates with Swedish consumer and business spending cycles.
EURSEK – The euro-to-Swedish krona exchange rate reacts to shifts in Sweden’s economic outlook and consumption data.
BTCUSD – Bitcoin’s price can reflect broader risk sentiment influenced by macroeconomic indicators like consumption.
ASSA-B – Assa Abloy’s shares are sensitive to domestic demand trends, including household spending on durable goods.
USDSEK – The US dollar to Swedish krona pair is a key barometer for capital flows reacting to consumption and policy shifts.
Insight: Household Consumption vs. ERIC Stock Price Since 2020
Since 2020, Sweden’s household consumption MoM growth and Ericsson (ERIC) stock price have shown a positive correlation. Periods of rising consumption, such as early 2024’s recovery, coincided with ERIC’s share price gains of over 15%. Conversely, consumption dips in mid-2025 aligned with ERIC’s temporary pullbacks. This relationship underscores how consumer demand influences corporate earnings expectations and investor sentiment in Sweden’s tech sector.
FAQs
What is the significance of Sweden’s Household Consumption MoM data?
The Household Consumption MoM data measures monthly changes in consumer spending, a key driver of Sweden’s GDP and economic health.
How does the latest consumption reading affect Sweden’s monetary policy?
The 0.30% growth suggests moderate spending, supporting the Riksbank’s cautious approach to interest rates amid inflation control efforts.
What are the main risks to Sweden’s consumption outlook?
Risks include persistent inflation, further monetary tightening, and external shocks such as geopolitical tensions impacting consumer confidence.
Final Takeaway: Sweden’s November household consumption growth signals a steady but cautious consumer environment, balancing inflation pressures and monetary tightening. The outlook remains mixed, with inflation trends and policy decisions set to shape the next phase of economic momentum.
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
Updated 11/13/25
Economic Calendar - SE Events
Thursday, September 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate YoY
1.9
2.6
2.1
2.02
Low
06:00
SE
CPIF MoM
-0.5
0.1
-0.4
-0.47
Low
06:00
SE
House Price Index MoM
3
3
-1
0.12
Low
Tuesday, September 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Industrial Production YoY
-1.6
0.4
3.5
2.83
Low
06:00
SE
Construction Output YoY
-7.5
-7.5
-7.2
-8.07
Low
06:00
SE
Household Consumption MoM
0.7
-0.8
0.4
0.27
Low
06:00
SE
Industrial Production MoM
1.6
-0.5
0.4
0.45
Low
06:00
SE
GDP MoM
-0.8
0.8
-0.3
-0.33
Low
06:00
SE
New Orders YoY
-0.1
1
1
4.07
Low
06:00
SE
Household Consumption YoY
-1.1
-1.7
-4.1
-4.02
Low
Wednesday, September 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
52.9
53.8
53.7
54.32
Low
06:00
SE
Current Account
153.9
106.3
96
116.92
Low
Monday, September 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
52.7
49.2
49.3
49.57
Low
Thursday, August 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Business Confidence
94.7
94.9
95.5
94.82
Low
07:00
SE
Consumer Confidence
96.3
96.2
96.7
97.62
Low
07:00
SE
Economic Tendency Indicator
94.7
94.9
95.2
95.17
Low
07:00
SE
Consumer Inflation Expectations
6
6.2
6.1
6.25
Low
06:00
SE
Retail Sales MoM
0.5
-0.8
-0.2
-0.13
Low
06:00
SE
GDP Growth Rate QoQ
-0.3
0.8
-0.8
-0.78
Low
06:00
SE
Retail Sales YoY
-0.5
-1.4
0.1
0.52
Low
06:00
SE
GDP Growth Rate YoY
0.5
0.9
0
0.43
Low
Wednesday, August 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:00
SE
Industrial Inventories QoQ
-2.39
8.63
3.8
2.92
Low
06:00
SE
Balance of Trade
6.5
8.1
8.1
7.63
Low
Tuesday, August 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Lending Growth YoY
0.7
0.7
0.6
0.53
Low
06:00
SE
PPI YoY
-0.1
0.8
1.2
0.42
Low
06:00
SE
PPI MoM
-1.4
-0.4
0.2
-0.22
Low
Friday, August 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
7.7
9.4
9.4
9.17
Low
06:00
SE
Employed Persons
5.444
5.429
5.43
5.42
Low
Thursday, August 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
New Orders YoY
0.8
-8.9
-4
-0.93
Low
Tuesday, August 20, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.5
3.75
3.5
3.50
Medium
06:00
SE
Capacity Utilization QoQ
0.6
0.2
0.3
0.10
Low
Wednesday, August 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.1
-0.1
0.2
0.20
Low
06:00
SE
CPIF MoM
0.1
0
0.2
0.13
Low
06:00
SE
Inflation Rate YoY
2.6
2.6
2.7
2.62
Low
06:00
SE
CPIF YoY
1.7
1.3
1.4
1.43
Low
Friday, August 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Consumption YoY
-1.4
-0.4
-0.6
-0.52
Low
06:00
SE
Household Consumption MoM
-0.6
0
-0.2
-0.33
Low
06:00
SE
Construction Output YoY
-9
-7.5
-7
-7.87
Low
06:00
SE
Industrial Production YoY
0.9
-3.1
0.5
-0.17
Low
06:00
SE
Industrial Production MoM
-0.5
1.1
-0.4
-0.35
Low
Thursday, August 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
3
2
0.9
2.02
Low
Monday, August 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
53.8
52.2
51.6
52.22
Low
Thursday, August 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
49.2
53
53
53.27
Low
Tuesday, July 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Consumer Inflation Expectations
6.2
6.2
6
6.15
Low
07:00
SE
Business Confidence
95.4
97.4
98
97.32
Low
07:00
SE
Consumer Confidence
96.6
93.7
94
94.92
Low
07:00
SE
Economic Tendency Indicator
95
96.4
96.5
96.47
Low
Monday, July 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Retail Sales MoM
-0.3
0.3
0.1
0.17
Low
06:00
SE
GDP Growth Rate YoY
0
0.7
-0.3
0.13
Low
06:00
SE
GDP MoM
0.9
-0.1
0.3
0.27
Low
06:00
SE
GDP Growth Rate QoQ
-0.8
0.7
0.3
0.32
Low
06:00
SE
Retail Sales YoY
-0.1
0.7
-2.1
-1.68
Low
Friday, July 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
9.4
8.7
9
8.77
Low
06:00
SE
Balance of Trade
8.7
10.4
14.7
14.23
Low
Thursday, July 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
PPI YoY
0.8
2.6
3
2.22
Low
06:00
SE
Household Lending Growth YoY
0.7
0.7
1.1
1.03
Low
06:00
SE
PPI MoM
-0.4
0
0.4
-0.02
Low
Friday, July 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
CPIF MoM
0
0.2
0.2
0.13
Low
06:00
SE
CPIF YoY
1.3
2.3
1.6
1.63
Low
06:00
SE
Inflation Rate MoM
-0.1
0.2
0.1
0.10
Low
06:00
SE
Inflation Rate YoY
2.6
3.7
2.8
2.72
Low
Thursday, July 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
1
1
0.4
1.52
Low
Monday, July 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Industrial Production MoM
1.1
-2.6
1.9
1.95
Low
06:00
SE
Industrial Production YoY
-2.9
-4.4
-3.6
-4.27
Low
Friday, July 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Construction Output YoY
-7.5
-4.4
-4.6
-5.47
Low
06:00
SE
New Orders YoY
-8.9
-15
-23.6
-20.53
Low
06:00
SE
Household Consumption MoM
-0.4
-0.4
0.3
0.17
Low
06:00
SE
Household Consumption YoY
-0.9
-0.8
0.8
0.88
Low
06:00
SE
GDP MoM
0.1
-0.7
0.4
0.37
Low
Wednesday, July 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
51.8
49.8
49.5
50.12
Low
Monday, July 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
53.6
54.1
51.6
51.87
Low
Friday, June 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Balance of Trade
11.9
7.2
7.1
6.63
Low
06:00
SE
Household Lending Growth YoY
0.7
0.5
0.8
0.73
Low
06:00
SE
Retail Sales MoM
0.2
0.3
0.1
0.17
Low
06:00
SE
Retail Sales YoY
0.8
0.7
-0.3
0.12
Low
Thursday, June 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.75
3.75
3.75
3.75
Medium
07:00
SE
Consumer Confidence
93.3
91.3
90
90.92
Low
07:00
SE
Business Confidence
97.3
94.5
98
97.32
Low
07:00
SE
Consumer Inflation Expectations
6.2
6.2
5.4
5.55
Low
07:00
SE
Economic Tendency Indicator
96.3
94.1
94.5
94.47
Low
Wednesday, June 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
PPI MoM
0
0.5
0.1
-0.32
Low
06:00
SE
PPI YoY
2.6
0.9
3.8
3.02
Low
Friday, June 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
CPIF YoY
2.3
2.3
2.1
2.13
Low
06:00
SE
Inflation Rate YoY
3.7
3.9
3.5
3.42
Low
06:00
SE
Inflation Rate MoM
0.2
0.3
-0.1
-0.10
Low
06:00
SE
CPIF MoM
0.2
0.3
-0.1
-0.17
Low
Thursday, June 13, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
1
-1
-0.1
1.02
Low
Monday, June 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
GDP MoM
-0.7
-0.4
0.2
0.17
Low
06:00
SE
Construction Output YoY
-4.9
-8
-5.4
-6.27
Low
06:00
SE
Household Consumption MoM
-0.4
-0.4
0
-0.13
Low
06:00
SE
New Orders YoY
-15.8
-6.4
7.5
10.57
Low
06:00
SE
Household Consumption YoY
-0.7
0.4
-0.5
-0.42
Low
06:00
SE
Industrial Production YoY
-4.4
2
-2.3
-2.97
Low
06:00
SE
Industrial Production MoM
-2.4
0.9
-0.6
-0.55
Low
Wednesday, June 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
49.5
48
48.9
49.52
Low
06:00
SE
Current Account
115.9
102.4
74
94.92
Low
Monday, June 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
54
51.9
51.5
51.77
Low
Thursday, May 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Economic Tendency Indicator
94
94.9
95.5
95.47
Low
07:00
SE
Consumer Confidence
91.3
88.8
89.5
90.42
Low
07:00
SE
Business Confidence
94.6
96.2
97
96.32
Low
07:00
SE
Consumer Inflation Expectations
6.2
6.5
6
6.15
Low
06:00
SE
GDP Growth Rate YoY
0.7
-0.1
-1.1
-0.67
Low
06:00
SE
GDP Growth Rate QoQ
0.7
0
0
0.02
Low
Wednesday, May 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Retail Sales MoM
0.3
0
0.3
0.37
Low
06:00
SE
Household Lending Growth YoY
0.5
0.6
0.7
0.63
Low
06:00
SE
Retail Sales YoY
0.5
1.1
3.5
3.92
Low
Tuesday, May 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Balance of Trade
7.9
4.8
4
3.53
Low
Friday, May 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
SE
Industrial Inventories QoQ
-4.6
4.2
-1.2
-2.08
Low
06:00
SE
PPI MoM
0.5
0.6
0.5
0.08
Low
06:00
SE
PPI YoY
0.9
-0.6
2.1
1.32
Low
Wednesday, May 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Employed Persons
5.227
5.188
5.22
5.21
Low
06:00
SE
Unemployment Rate
8.9
9.2
9
8.77
Low
Tuesday, May 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Capacity Utilization QoQ
0.2
-1.4
0.2
0.00
Low
Wednesday, May 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.3
0.1
0.4
0.40
Low
06:00
SE
CPIF MoM
0.3
0.1
0.4
0.33
Low
06:00
SE
CPIF YoY
2.3
2.2
2.4
2.43
Low
06:00
SE
Inflation Rate YoY
3.9
4.1
4
3.92
Low
Friday, May 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Consumption YoY
1.2
0.2
0.2
0.28
Low
06:00
SE
New Orders YoY
1
-3.3
-3
0.07
Low
06:00
SE
Construction Output YoY
-6.9
-4.9
-4
-4.87
Low
06:00
SE
Household Consumption MoM
0.5
-0.2
-0.1
-0.23
Low
06:00
SE
Industrial Production MoM
2.1
-1.8
-0.3
-0.25
Low
06:00
SE
Industrial Production YoY
2.9
-2.5
-0.2
-0.87
Low
Wednesday, May 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.75
4
3.75
3.75
Medium
06:00
SE
House Price Index MoM
-1
-2
-1
0.12
Low
Monday, May 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
48.1
54.1
53.2
53.82
Low
Monday, April 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
GDP Growth Rate YoY
-1.1
-0.2
-0.2
0.23
Low
06:00
SE
Retail Sales YoY
1.1
0.1
1.2
1.62
Low
06:00
SE
Retail Sales MoM
-0.4
0.5
-0.5
-0.43
Low
06:00
SE
GDP Growth Rate QoQ
-0.1
-0.1
-0.1
-0.08
Low
06:00
SE
GDP MoM
-0.3
-0.3
0.5
0.47
Low
Friday, April 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Imports
171.4
160.9
186.5
183.80
Low
06:00
SE
Balance of Trade
4.8
10.9
5.9
5.43
Low
06:00
SE
Household Lending Growth YoY
0.6
0.4
0.1
0.03
Low
06:00
SE
Exports
176.2
171.8
192.4
191.30
Low
Thursday, April 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Business Confidence
96.3
94.4
95.1
94.42
Low
07:00
SE
Consumer Inflation Expectations
6.5
6.4
6
6.15
Low
07:00
SE
Consumer Confidence
88.9
87.6
88
88.92
Low
06:00
SE
PPI YoY
-0.6
-1.3
-1
-1.78
Low
06:00
SE
PPI MoM
0.6
0
0.2
-0.22
Low
Wednesday, April 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
9.2
8.5
7.9
7.67
Low
06:00
SE
Employed Persons
5.188
5.174
5.24
5.23
Low
Friday, April 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.1
0.2
0.4
0.40
Low
06:00
SE
CPIF YoY
2.2
2.5
2.6
2.63
Low
06:00
SE
CPIF MoM
0.1
0.2
0.4
0.33
Low
06:00
SE
Inflation Rate YoY
4.1
4.5
4.4
4.32
Low
Thursday, April 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
-2
-3
-1
0.12
Low
Wednesday, April 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Construction Output YoY
-4.7
-6.6
-3.2
-4.07
Low
06:00
SE
Industrial Production MoM
-1.4
2.6
-1.1
-1.05
Low
06:00
SE
Household Consumption YoY
-0.3
-0.1
-0.2
-0.12
Low
06:00
SE
Industrial Production YoY
-1.5
0.9
0.9
0.23
Low
06:00
SE
New Orders YoY
-3.5
-5.9
-4.4
-1.33
Low
06:00
SE
GDP MoM
0.1
1.1
0.3
0.27
Low
06:00
SE
Household Consumption MoM
-0.5
-0.5
0.4
0.27
Low
Thursday, April 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
53.9
51.2
51.1
51.72
Low
Tuesday, April 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
50
49.2
48.9
49.17
Low
Thursday, March 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Retail Sales MoM
0.5
0.2
-0.1
-0.03
Low
07:00
SE
Retail Sales YoY
0.3
-1.9
-1.4
-0.98
Low
Wednesday, March 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
SE
Riksbank Rate Decision
4
4
4
4.00
Medium
07:00
SE
Exports
171.8
168.4
167
165.90
Low
07:00
SE
Imports
162.5
155.1
158.1
155.40
Low
07:00
SE
Balance of Trade
9.3
13.3
8.9
8.43
Low
07:00
SE
Household Lending Growth YoY
0.4
0.4
0.2
0.13
Low
Tuesday, March 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Consumer Inflation Expectations
6.4
6.8
6.6
6.75
Low
08:00
SE
Consumer Confidence
87.5
83
83
83.92
Low
08:00
SE
Business Confidence
94.4
92.1
92
91.32
Low
07:00
SE
PPI YoY
-1.3
-2.3
-1.1
-1.88
Low
07:00
SE
PPI MoM
0
0.3
0.2
-0.22
Low
Friday, March 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Unemployment Rate
8.5
8.5
9
8.77
Low
07:00
SE
Employed Persons
5.174
5.136
5.16
5.15
Low
Thursday, March 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
CPIF YoY
2.5
3.3
2.8
2.83
Low
07:00
SE
CPI
413.76
412.74
415.2
415.51
Low
07:00
SE
Inflation Rate MoM
0.2
-0.1
0.4
0.40
Low
07:00
SE
CPIF MoM
0.2
-0.3
0.3
0.23
Low
07:00
SE
Inflation Rate YoY
4.5
5.4
4.7
4.62
Low
Friday, March 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Consumption MoM
-0.7
0.4
0.3
0.17
Low
07:00
SE
Household Consumption YoY
-0.7
0.9
0.5
0.58
Low
07:00
SE
Industrial Production YoY
1.2
-0.1
-0.6
-1.27
Low
07:00
SE
Industrial Production MoM
2.3
1.2
0.2
0.25
Low
07:00
SE
GDP MoM
0.9
-0.3
0.4
0.37
Low
07:00
SE
New Orders YoY
-6.1
-8.5
-4.7
-1.63
Low
07:00
SE
Construction Output YoY
-5.8
-7.7
-5.2
-6.07
Low
Thursday, March 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
-3
-2
-1
0.12
Low
Wednesday, March 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Current Account
116.7
114.7
91
111.92
Low
Tuesday, March 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
50.5
51.5
52.4
53.02
Low
Friday, March 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Swedbank Manufacturing PMI
49
47.1
48.6
48.87
Low
Thursday, February 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Retail Sales MoM
0.4
-0.2
0.3
0.37
Low
07:00
SE
Retail Sales YoY
-1.2
-2.2
-1.8
-1.38
Low
07:00
SE
GDP Growth Rate QoQ
-0.1
-0.1
0.1
0.12
Low
07:00
SE
GDP Growth Rate YoY
-0.2
-1.1
-0.3
0.13
Low
Wednesday, February 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Business Confidence
92
91.8
92.4
91.72
Low
08:00
SE
Consumer Inflation Expectations
6.8
7.1
6.9
7.05
Low
08:00
SE
Consumer Confidence
82.7
82.7
84
84.92
Low
07:00
SE
Balance of Trade
13.3
1.9
3
2.53
Low
07:00
SE
PPI MoM
0.3
-1.6
-1.2
-1.62
Low
07:00
SE
Exports
167.8
160.4
163
161.90
Low
07:00
SE
Imports
154.5
158.5
160
157.30
Low
07:00
SE
PPI YoY
-2.3
-7.7
-3.7
-4.48
Low
Tuesday, February 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Lending Growth YoY
0.3
0.4
0.3
0.23
Low
Tuesday, February 20, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Inventories QoQ
2
-8.6
-2.3
-3.18
Low
07:00
SE
Capacity Utilization QoQ
-1.3
-0.5
0.2
0.00
Low
Monday, February 19, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Inflation Rate MoM
-0.1
0.7
-0.4
-0.40
Low
07:00
SE
CPIF MoM
-0.3
0.6
-0.6
-0.67
Low
07:00
SE
Inflation Rate YoY
5.4
4.4
5.1
5.02
Low
07:00
SE
CPI
412.74
413.34
410.4
410.71
Low
07:00
SE
CPIF YoY
3.3
2.3
3.1
3.13
Low
Friday, February 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Unemployment Rate
8.5
7.7
8.2
7.97
Low
07:00
SE
Employed Persons
5.136
5.188
5.19
5.18
Low
Friday, February 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Production MoM
1.4
-1.3
0.7
0.75
Low
07:00
SE
New Orders YoY
-6.9
0.2
1.2
4.27
Low
07:00
SE
Household Consumption MoM
0.1
-0.5
0.2
0.07
Low
07:00
SE
Household Consumption YoY
0.1
0.1
0.6
0.68
Low
07:00
SE
Construction Output YoY
-6.1
-6.6
-4
-4.87
Low
07:00
SE
Industrial Production YoY
0.1
-0.8
0.6
-0.07
Low
Thursday, February 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
-1
-1
0
1.12
Low
Monday, February 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
51.8
50.3
49
49.62
Low
Thursday, February 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
SE
Riksbank Rate Decision
4
4
4
4.00
Medium
07:30
SE
Swedbank Manufacturing PMI
47.1
48.6
49.5
49.77
Low
Tuesday, January 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Business Confidence
91.7
87.1
87
86.32
Low
08:00
SE
Consumer Inflation Expectations
7.1
6.5
6.2
6.35
Low
08:00
SE
Consumer Confidence
82.3
74.8
75
75.92
Low
Monday, January 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
GDP MoM
-0.3
-0.2
0.1
0.07
Low
07:00
SE
Retail Sales MoM
-0.2
-0.5
0.3
0.37
Low
07:00
SE
Retail Sales YoY
-2.2
-1.7
-1.2
-0.78
Low
07:00
SE
GDP Growth Rate QoQ
0.1
-0.3
0.3
0.32
Low
07:00
SE
GDP Growth Rate YoY
0
-1.4
-2
-1.57
Low
Friday, January 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Lending Growth YoY
0.4
0.5
0.3
0.23
Low
07:00
SE
Unemployment Rate
7.7
7.1
7.3
7.07
Low
07:00
SE
Employed Persons
5.188
5.26
5.15
5.14
Low
07:00
SE
Imports
156.4
180.8
165
162.30
Low
07:00
SE
Exports
160.2
192.9
177
175.90
Low
07:00
SE
Balance of Trade
3.8
12.1
12
11.53
Low
Thursday, January 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
PPI YoY
-7.7
-4.2
-6
-6.78
Low
07:00
SE
PPI MoM
-1.6
1.4
0.3
-0.12
Low
Monday, January 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
CPI
413.34
410.35
412.4
412.71
Low
07:00
SE
Inflation Rate MoM
0.7
0.3
0.6
0.60
Low
07:00
SE
Inflation Rate YoY
4.4
5.8
4.3
4.22
Low
07:00
SE
CPIF YoY
2.3
3.6
2.2
2.23
Low
07:00
SE
CPIF MoM
0.6
0.1
0.4
0.33
Low
Thursday, January 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
0
0
0.7
1.82
Low
Wednesday, January 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Production YoY
0.2
-0.5
-0.2
-0.87
Low
07:00
SE
Household Consumption MoM
-0.5
0.5
0.5
0.37
Low
07:00
SE
Construction Output YoY
-5.3
-5.8
-3.8
-4.67
Low
07:00
SE
Industrial Production MoM
-1.1
0.3
0.3
0.35
Low
07:00
SE
Retail Sales YoY
-1.7
-1
-1.7
-1.28
Low
07:00
SE
Household Consumption YoY
0.1
0.7
0.6
0.68
Low
07:00
SE
New Orders YoY
1
0.2
0.8
3.87
Low
07:00
SE
GDP MoM
0.2
1
0.7
0.67
Medium
07:00
SE
Retail Sales MoM
-0.5
1.4
-0.6
-0.53
Low
Thursday, January 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
50
48.5
49.8
50.42
Low
Symbol
Price
Analysis and Forecast
Household Consumption Rises Moderately in Sweden November Sweden’s Household Consumption MoM Shows Steady Growth Household Consumption MoM measures the monthly change in consumer spending, a key driver of Sweden’s economic activity. For November 2025, Sweden’s household consumption increased by 0.30%, matching market expectations but slowing from October’s 0.80% rise. Fast facts: year-over-year growth stands near 2.10%, the monthly increase is 0.30%, and the data was released on November 10, 2025. This moderate gain reflects cautious consumer behavior amid ongoing monetary tightening by the Riksbank, which recently raised rates to 3.75% to combat inflation. Morgan Stanley’s lead economist notes, “Swedish consumers remain resilient but are clearly adjusting to higher borrowing costs and inflation pressures.” The steady pace suggests households are balancing spending with saving, while external uncertainties and fiscal policies continue to influence demand. Overall, the Household Consumption MoM in SE points to a stable but cautious outlook for near-term economic growth.
November’s 0.30% MoM household consumption growth in Sweden is a slowdown from October’s 0.80% but aligns with the 12-month average of 0.30%. The chart below illustrates the monthly fluctuations, highlighting the sharp dip in July (-1.20%) and the rebound in April (1.10%).
Key figure: The 0.30% growth marks a stabilization phase after recent volatility, suggesting consumers are cautiously adapting to higher interest rates and inflation.