Sweden: Economic sentiment slumps to near seven-year low in March
The economic tendency indicator fell to 92.4 in March from a revised 98.7 in February (previously reported: 99.1), representing a near seven-year low. Readings above 100 points indicate stronger economic growth than normal, while readings below 100 points indicate weaker economic growth than normal.
The decrease in March was due to a sharp fall in consumers’ assessments of their personal finances, likely due to concerns about the economic impact of the spread of coronavirus. Moreover, business confidence across all sectors of the economy fell in March, although the services sector suffered the steepest fall.