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Sweden Economic Sentiment January 2024

Sweden: Economic sentiment improves in January

Economic sentiment came in at 90.9 in January, up notably from December’s 85.6. January’s result marked the strongest sentiment since September 2022. Despite the uptick, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected healthier sentiment in the industrial sector. Additionally, confidence in the services sector was healthier in January, and sentiment in the retail sector improved in the surveyed month. Less positively, sentiment in the construction sector deteriorated. Lastly, consumer sentiment rose in January.

Referring to indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index decreased in January.

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