Sweden: Economic sentiment deteriorates in December
The economic tendency indicator fell to 95.6 in December from November’s 97.2. The print marked the first fall in sentiment since April. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The drop in December was driven by deteriorating indicators for the manufacturing and construction sub-sectors. Meanwhile, the consumer confidence sub-indicator rose to 92.3 in December from 88.6 in November, while the business confidence sub-indicator dropped to 92.6 in December from 94.6 in the prior month.