Sweden: Economic sentiment slumps in April
The economic tendency indicator slumped to 58.6 in April from a revised 92.5 in March (previously reported: 92.4), which is the lowest reading since data for the indicator first became available in 1996. Readings above 100 points indicate stronger economic growth than normal, while readings below 100 points indicate weaker economic growth than normal.
The decrease in April was broad-based across sub-components of the economic tendency indicator. Most notably, business confidence fared particularly poorly, with its sub-component indicator falling to 53.1 from 91.4 in March. Consumer confidence also deteriorated sharply, as consumers became more pessimistic about both their finances and the state of the economy.