The Services Producer Price Index increased by 2.3 percent in the second quarter of 2022 compared to the first quarter of 2022. Since the second quarter of 2021, the Services Producer Price Index has increased by 7.9 percent. That is the highest annual rate since 2005, when compilation of total SPPI began. The annual rate in the first quarter of 2022 was 6.3 percent.
In June 2022, there were 5,333,000 employed people, not seasonally adjusted. This is an increase of 188,000 persons compared to June 2021. The number of employed young people, aged 15–24, increased by 81,000 to 633,000. The average number of hours worked per week amounted to 158.7 million, an increase of 2.7 percent in calendar adjusted figures. The number of unemployed people amounted to 504,000, a decrease of 87,000 persons compared to June 2021. The unemployment rate was 8.6 percent, a decrease of 1.7 percentage points. Smoothed and seasonally adjusted data indicates an increase in employment and a decrease in the unemployment rate which amounted to 7.6 percent.
Sweden’s GDP increased by 0.6 percent in June, seasonally adjusted and compared with the previous month, as shown in the preliminary compilation of the GDP indicator. For the second quarter as a whole, GDP increased by 1,4 percent, seasonally adjusted and compared with the previous quarter.
The retail sales volume decreased by 1.2 percent in June compared with May. Retail sales in durables decreased by 2 percent and retail sales in consumables (excluding Systembolaget, the state-owned chain of liquor stores) increased by 1.4 percent. These figures are working-day and seasonally adjusted and in fixed prices.
In June 2022, Swedish exports of goods amounted to SEK 181.7 billion, while imports of goods amounted to SEK 178.6 billion. As a result, the net trade balance was SEK 3.1 billion.