Consumers more upbeat about the economy

The Economic Tendency Indicator, which measures business and consumer confidence, rose from 100.1 in August to 103.0 in September, a level that points to somewhat stronger economic growth than normal. Both firms and consumers contributed to the increase. Consumer confidence has recovered markedly and is now back around the historical average.

The consumer confidence indicator jumped 5.8 points from 94.6 to 100.4. All of the subcomponents contributed to the increase, but the biggest change was in consumers’ expectations for the Swedish economy over the next 12 months.

The business confidence indicator rose 1 point to 105.1, which points to stronger sentiment than normal. Manufacturing and services made positive contributions, while the retail indicator fell back slightly. Firms in the construction sector continued to report a much stronger situation than normal.

Firms as a whole reported unchanged employment over the past three months, but with variations between sectors. Manufacturers reported a decrease in employment, while firms in the construction, retail and service sectors reported an increase. Firms’ recruitment plans for the next three months remain much more optimistic than normal.

For further information:

Maria Billstam, Head of Economic Tendency Surveys +46 8 453 59 04
Sarah Hegardt Grant, Head of Communications +46 8 453 59 11

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