Sweden: Economic sentiment deteriorates to over six-year low in September
The economic tendency indicator fell to 94.6 points in September from 94.9 points in August, marking the lowest reading since June 2013. Values above 100 indicate strengthening economic growth, while values below 100 indicate weakening growth.
September’s decline was due to lower confidence among both businesses and consumers: The sub-indicator tracking business confidence dropped to 96.2 points in September from 96.5 points in August, while the consumer confidence sub-indicator fell to 90.6 points in September from 93.3 points in August. Consumers were less confident about both their own financial situations as well as the bigger economic picture in September.