Sweden: Economic sentiment continues to deteriorate in December
The economic tendency indicator (ETI) deteriorated for a seventh consecutive month in December, coming in at 84.7, down from Novembers 85.1. Decembers result marked the weakest sentiment since July 2020. As such, the index moved further blow the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The fall came on the back of a deterioration in the manufacturing and retail subsectors confidence indicators. These more than offset improved sentiment in the services subsector.
Meanwhile, the business confidence subsector indicator rose to 87.6 in December, up from Novembers 86.7. Conversely, the consumer confidence sub-indicator dropped to 54.1, down from the prior months 57.4.