The spring has been marked by crises – banks that collapsed and real estate companies that have had problems with the new interest rates. Nevertheless, the stock market has climbed and, according to Kristin Magnusson Bernard, CEO of Första AP-fonden, the economy as a whole has coped well with the challenges.
"We are now seeing interest rate hikes biting and inflation coming down. We can succeed in soft landing," she says.
This winter's warnings of a deeper recession also seem to be failing right now. Compared with both the 90s crisis and the financial crash of 2008, both the banking system and the labour market look better equipped, according to Kristin Magnusson Bernard.
"The labour market is surprisingly strong. The whole downturn in the labour market is set right now, people have jobs to go to and you have money to buy things with. It keeps the wheels turning," she says.
Inflation helps companies
At the same time, high inflation has allowed companies on the stock exchange to report large profits, according to Molly Guggenheimer, equity strategist at Danske bank.
"One reason we all predicted recession was inflation. But I think one reason why we are not in recession is also inflation. Companies don't sell a lot of products, but they have high profits because the price compensates. The profitability is far too good to lay off employees," she says.
Don't miss Ekonomibyrån's latest episode Does the comfort come with autumn? on SVT Play.