Sweden: Economic sentiment edges up in February
The economic tendency indicator rose from January’s revised 102.0 (previously reported: 101.9) to 102.4 in February, interrupting four consecutive months of decline. Values above 100.0 indicate stronger economic growth than normal, while values above 110.0 indicate much stronger growth than normal. The index is still down sharply since the end of Q3, pointing to ebbing momentum in the Swedish economy.
February’s figure came on the back of stronger optimism in the manufacturing sector, which was however partly offset by worsening sentiment in the service, retail trade and construction sectors.
Meanwhile, consumer sentiment remained downbeat in February, with consumers still being pessimistic about economic prospects for the next 12 months.