Spring is here with lower energy costs and indications that inflation is starting to level off. This contributes to traders starting to see the future somewhat brighter, according to the Swedish Trade Barometer for the month of May.
With increased turnover from upcoming student parties and midsummer celebrations, trade is once again experiencing a bit more of a tailwind.
But the report is divided because, while retail trade is increasing by 4.7 percent, wholesale trade’s challenges remain with fierce competition and a weak krone exchange rate.
– The wholesale trade’s challenges remain. Trade is an importing industry and the wholesale trade makes the majority of purchases in other currencies, so the weak krona exchange rate is one of the reasons why wholesalers’ pessimism remains, says Sofia LarsenCEO of Swedish Trade in a comment.
The increase in retail trade is said to be primarily driven by grocery trade.
– Important sales periods are approaching and especially midsummer is important for the grocery trade. Last year, additional sales increased by approximately 1 billion during the midsummer week, and this is also when you take the opportunity to bring in summer staff, explains Sofia Larsen.