Sweden: Economic sentiment rises for third straight month in August
August 30, 2018
The economic tendency indicator rose from a revised 109.7 in July (previously reported: 109.6) to 111.5 in August. Values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal.
August's uptick came on the back of greater optimism in the majority of sub-sectors, including manufacturing; retail; construction; and civil engineering. Sentiment in the manufacturing sector in particular was extremely elevated, especially in the pulp and paper; and transport industries. Only the services sector reported a drop in sentiment, which was still above the series’ long-run average.
In line with firms’ rosier outlook, consumer sentiment improved for the third month in succession in August, largely due to improved view of personal finances.
Author: Oliver Reynolds, Economist