Sweden: Economic sentiment continues to drop in March, but remains strong
The economic tendency indicator declined from a revised 109.4 in February (previously reported: 109.5) to 108.4 in March, according to the National Institute of Economic Research (NIER). Although the indicator has now fallen for four straight months, it remains elevated. Values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal.
March’s dip was driven by lower optimism in the services sector, on softer signs for business activity in recent months. Consumers also grew less optimistic, although sentiment among consumers remained slightly above normal. Sentiment in the manufacturing sector was relatively unchanged month-on-month, while businesses in the building and civil engineering industry turned more positive. In the retail sector, sentiment was largely unchanged.