Economic Tendency Survey, October 2009

The Economic Tendency Indicator, which measures business and consumer confidence in the economic situation, rose to 94.8 in October from 90.7 the previous month, signalling that business and consumer sentiment is weaker than normal. The manufacturing industry, the private service sector and the household sector made a positive contribution to the Economic Tendency Indicator in October, while the construction industry made a negative contribution. Business: Fewer firms planning staff cuts The situation in the Swedish business sector improved further in the third quarter this year and the confidence indicator rose 12 points, compared with the previous quarter. The indicator has now risen 24 points from its lowest level in the first quarter of 2009. Employment plans point to a continued decline, but considerably fewer firms forecast staff cuts than previously. Consumer: Households less negative to Swedish economy Consumer confidence in the economic situation continued to improve somewhat in October. The Consumer Confidence Indicator (CCI) rose to 7.5 from 5.6 the previous month. The CCI, which has risen gradually since May this year, is currently somewhat above the historic average. Household pessimism concerning the Swedish economy seems to have moderated slightly and above all, attitudes to the current situation in the Swedish economy are less negative than previously. However, more than half of households still consider that the situation in the Swedish economy is currently weaker than 12 months ago. Roger Knudsen, head of unit for Economic Tendency Survey, phone: +46-8-453 59 06 or +46-70-491 36 04 Maria Billstam, Director Consumer Tendency Survey phone: +46-8-453 59 04


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