Economic Tendency Indicator gains another 2.4 points in November
The Economic Tendency Indicator rose 2.4 points from 101.7 in October to 104.1 in November and has gained more than 12 points over the past six months. The indicators for all sectors except private services increased. The manufacturing indicator climbed furthest, by just over 4 points, while the services indicator fell 0.6 points. All of the confidence indicators are above their historic averages, with the exception of the indicator for the building and civil engineering industry, which is slightly less than 3 points below the historic average.
Confidence indicator climbs further to almost 5 points above average
The confidence indicator for the manufacturing industry gained 4.1 points in November and is well above the historic average. Two of the three questions included in the indicator made a positive contribution: the assessment of current order books is less negative than before, and production plans are somewhat more optimistic. The assessment of current stocks of finished goods did not change appreciably; they are considered to be sufficient.
The confidence indicator for the building and civil engineering industry gained 2.5 points in November but remains somewhat below the historic average. Both questions included in the indicator made a positive contribution: the assessment of current order books is somewhat less negative, and employment plans have been revised up.
The confidence indicator for the retail trade gained 1.7 points in November and is now 4 points above the historic average. Two of the three questions included in the indicator made a positive contribution: sales have risen, and the assessment of stocks of goods is less negative than before. Expectations for sales in the coming months remain optimistic but have been revised down slightly.
The confidence indicator for the private service sector dropped for a second successive month, falling 0.6 points in November, but remains a couple of points above the historic average. Two of the three questions included in the indicator made a negative contribution: both demand and expectations were less positive than in October. Firms are more positive, however, about how their operations have developed.
Households more optimistic
The Consumer Confidence Indicator rose 2.9 points from 102.0 in October to 104.9 in November. Four of the five questions included in the indicator made a positive contribution: consumers are more positive about both the current situation and the outlook for both their personal finances and the Swedish economy. Their assessment of whether it is a good time to make major purchases was unchanged from October.
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
Tags: