Sweden: Economic sentiment dragged lower in October
October 25, 2019
The economic tendency indicator fell to 93.6 points in October from a revised 94.4 points in September (previously reported: 94.6 points), marking the lowest reading since May 2013. Values above 100 indicate stronger economic growth than normal, while values below 100 indicate weaker than normal economic growth.
October’s decline was due to lower confidence among businesses: the sub-indicator tracking business confidence dropped to 94.0 points in October from 95.9 points in September. However, consumer confidence grew, as the associated sub-indicator rose to 92.7 points in October from 90.1 points in September. Consumers were more confident about their own financial situation.
Author: Stephen Vogado, Economist