Sweden: Economic sentiment deteriorates to over six-year low in August
August 28, 2019
The economic tendency indicator fell to 94.9 points in August from 96.4 points in July, marking the lowest reading since June 2013. Values above 100 indicate strengthening economic growth, while values below 100 indicate weakening growth.
August’s decline was due to lower confidence among both businesses and consumers: The sub-indicator tracking business confidence dropped to 96.6 points in August from 97.1 points in July, while the consumer confidence sub-indicator fell to 94.0 points from 96.5 points. Consumers were less confident about both their own financial situations as well as the bigger economic picture in August.
Author: Edward Gardner, Economist