Sweden: Economic sentiment hits 23-month high in March
The economic tendency indicator came in at 105.3 in March, up from February’s 103.8 and marking the strongest sentiment since April 2019. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The rise in March was driven by improving indicators for the manufacturing, construction and service sub-sectors. Meanwhile, the consumer confidence sub-indicator remained unchanged from the previous month, coming in at 97.1 in March, while the business confidence sub-indicator increased slightly to 100.8 from 100.5 in February.