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Sweden Economic Sentiment October 2023

Sweden: Economic sentiment records worst reading since June 2020 in October

Economic sentiment fell to 82.0 in October from September’s 83.0. October’s result marked the worst reading since June 2020. As a result, the index remained entrenched below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.

The headline print reflected declining sentiment in the services sector, as well as a slight deterioration of sentiment in the industrial sector; both fell below the 0-point threshold. That said, healthier sentiment was registered in the construction and retail sectors; the latter hit a 16-month high. Lastly, consumer sentiment was up in October.

Relating to indicators that are not used to calculate the index, employment expectations were healthier, and the economic uncertainty index increased in October.

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