Almost all indicators fell in February
The Economic Tendency Indicator fell 2.8 points from 107.4 in January to 104.6 in February. All the underlying indicators fell except that for the building and civil engineering industry, which gained 3.3 points. The biggest drop was in the manufacturing indicator, which fell almost 4 points. However, all indicators are still above their historical averages.
Total business sector confidence falls for first time in ten months
The confidence indicator for the manufacturing industry fell 3.9 points in February but remains above the historical average. Two of the three questions included in the indicator contributed to the decrease: the assessment of current stocks of finished goods was less positive, and production plans were less optimistic, but the assessment of current order books was more positive.
The confidence indicator for the building and civil engineering industry gained 3.3 points in February and is now 3.7 points above the historical average. Both questions included in the indicator made a positive contribution: employment plans were revised up sharply, and the assessment of current order books improved marginally.
The confidence indicator for the retail trade fell 1.6 points in February but remains slightly more than 6 points above the historical average. Two of the three questions included in the indicator contributed to the decrease: historical sales were less positive, and expectations for sales in the coming months were less optimistic, but the assessment of stocks of goods was more positive.
The confidence indicator for the private service sector fell 2 points in February and is now 6.4 points above the historical average. All three questions included in the indicator contributed to the decrease: historical demand was lower, expectations for demand in the coming months were somewhat less optimistic, and firms' assessment of how their operations have developed was less positive.
Consumers pessimistic about personal finances
The Consumer Confidence Indicator fell 2.4 points from 102.7 in January to 100.3 in February and is now just above the historical average. Four of the five questions included in the indicator made a negative contribution: consumers’ expectations for both their personal finances and the Swedish economy over the next 12 months were less optimistic, and their view of both the current state of the Swedish economy and whether now is a good time to make major purchases was more negative, while their opinion of the current state of their personal finances was unchanged. Only the assessment of personal finances over the next 12 months was more pessimistic than normal (i.e. below the historical average).
For further information:
Roger Knudsen, Head of Economic Tendency Surveys +46-8-453 59 06
Sarah Hegardt Grant, Head of communications +46-8-453 59 11
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