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Sweden Economic Sentiment February 2023

Sweden: Economic sentiment improves for the first time in nine months in February

The economic tendency indicator (ETI) improved in February, ending an eight-month deterioration streak. It came in at 85.7, up from January’s 83.3. As such, the index moved closer to, but remained below, the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.

The upturn came on the back of an improvement in the manufacturing and services subsectors confidence indicators. These more than offset deteriorating sentiment in the construction and retail subsectors.

Meanwhile, the business confidence subsector indicator rose to 88.9 in February, up from the prior month’s 87.1. Similarly, the consumer confidence sub-indicator increased to 59.9 in February, above January’s 57.7 reading.

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