Sweden Economic Sentiment July 2020

Sweden

Sweden: Economic sentiment remains downbeat, despite further improvement in July

July 29, 2020

The economic tendency indicator climbed to 83.4 in July from June’s 75.3. Nevertheless, the indicator remains below 100, which signals weaker economic growth than normal.

The business confidence sub-indicator jumped to 80.7 in July from 68.9 in June. However, July’s improvement was not broad-based, as the consumer confidence indicator fell to 83.3 from June’s 84.1.

Despite the rise of the indicator, by historical standards, the overall print for July remained downbeat; over the past decade, the economic tendency indicator averaged above 100.

FocusEconomics Consensus Forecast panelists see fixed investment dropping 7.1% in 2020, which is up 0.4 percentage points from last month’s forecast, before rising 2.1% in 2021. Panelists expect private consumption to drop 4.8% in 2020, which is up 0.2 percentage points from last month’s forecast, before increasing 3.5% in 2021.


Author:, Junior Economist

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Sweden Economic Sentiment July 20 20

Note: Economic Tendency Survey Indicator.
Source: National Institute of Economic Research (NIER).


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