Sweden: Economic sentiment falls sharply in January
The economic tendency indicator dropped from December’s revised 105.6 (previously reported: 106.3) to 101.9 in January. Values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal. The index is now down sharply since the end of Q3, pointing to ebbing momentum in the Swedish economy.
January’s figure came on the back of lower optimism in the manufacturing, retail and service sectors, while confidence in the construction sector ticked up.
Meanwhile, consumer sentiment darkened in January, with consumers particularly downbeat about economic prospects for the next 12 months.