Broad-based strength
The Economic Tendency Indicator, which reflects sentiment in the Swedish economy, climbed for a fourth successive month in December to 113.8, which points to much stronger economic growth than normal. The increase was due mainly to a surge in confidence in the manufacturing industry. The services indicator also gained a couple of points, while the retail and construction indicators backed slightly. Consumer confidence was down on November but remains above the historical average.The confidence indicator for the manufacturing industry jumped 11 points in December to a historically high level.