Sweden: Economic sentiment unchanged in December
The economic tendency indicator was stable in December at November’s revised 106.3 (previously reported: 106.7). The index remains fairly elevated; values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal. However, the index does suggest ebbing momentum in the Swedish economy, following a prolonged period of very high readings.
December’s figure came on the back of greater optimism in the construction and manufacturing industries, which was offset by less confidence in the service sector. Confidence in the retail sector was largely unchanged.
Meanwhile, consumers grew slightly less positive in December, on the back of a less rosy view of the economy.