Sweden: Economic sentiment deteriorates further in July
July 25, 2019
The economic tendency indicator fell to 96.8 points in July, down from 98.1 points in June and marking the lowest reading since September 2013. Values above 100 indicate strengthening economic growth, while values below 100 indicate weakening growth.
July’s decline was due to lower confidence among businesses in the manufacturing sector, with manufacturers’ takes on their order books and stocks of finished goods contributing towards the fall. In addition, the confidence indicator for the services sector decreased, as services firms reported a slightly weaker business performance over the past three months. On the other hand, consumer confidence increased.
Author: Edward Gardner, Economist