Swedish economic sentiment indicator remains stable in September

Swedish September Tendency Survey continues to hint at sluggish growth. Export demand is eroding and households are hesitant. The Economic Sentiment Indicator stayed stable at 94.6 in September and thus well below its historical average, hinting at soft GDP growth. The consumer sentiment dropped to 90.6, the lowest reading since 2012. Not least are households worried about the situation on the labour market. Manufacturing sentiment rose, but details indicate that production plans deteriorated and order intake from export markets declined. Employment plans dropped. Firms that are cutting staff are in majority, but employment plans are nevertheless more positive than hard data. “Indicators for the labour market are mixed. Employment plans are less bad than hard data while households are concerned over the situation on the labour market. The bottom line is that the Riksbank is too optimistic on pretty much everything”, said Nordea Bank.

- EconoTimes -



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