Economic tendency indicator hits one-year high
The economic tendency indicator climbed 2.0 points from 103.8 in November to 105.8 in December. This level points to stronger economic growth than normal. The construction, retail and services indicators rose, while the manufacturing indicator fell. The biggest increase was in the services indicator, which leapt 5.2 points. All of the business indicators are above the historical average. The consumer indicator also improved in December to a level just below the historical average.
Employment on the way up
The confidence indicator for the manufacturing industry fell 1.3 points in December from 107.7 to 106.4 but is still well above the historical average. Two of the three questions included in the indicator made a negative contribution: firms' assessments of both current stocks of finished goods and current order books were less positive, but they were more optimistic about production volumes over the next three months.
The confidence indicator for the building and civil engineering industry climbed 1.7 points from 106.4 to 108.1, its highest level since September 2011. Both questions included in the indicator contributed to the increase: the assessment of current order books was less negative, and the industry's already optimistic employment plans were slightly more expansive still.
The confidence indicator for the retail trade gained 1.2 points in December and is now 7.5 points above the historical average. One of the three questions included in the indicator made a negative contribution: historical sales volumes grew somewhat more slowly than in the previous month, but expectations of sales volumes over the next three months were revised up further, and the assessment of stocks of goods was somewhat less negative.
The confidence indicator for the private service sector jumped 5.2 points in December from 101.1 to 106.3. All three questions included in the indicator contributed to the rise: historical demand was stronger, firms' assessment of how their operations have developed improved further, and expectations of demand over the next three months were revised up.
Greater confidence in both personal finances and the Swedish economy
The consumer confidence indicator climbed 2.1 points from 96.9 in November to 99.0 in December, or just below the historical average. Three of the five questions included in the indicator made a positive contribution, most notably expectations of the Swedish economy over the next 12 months, which were significantly less pessimistic. Consumers’ assessments of both their personal finances at present and whether now is a good time to make major purchases were also somewhat more positive, but they were less positive about the current state of the Swedish economy, which made a negative contribution to the change in the indicator.
For further information, please contact:
Roger Knudsen, Head of Economic Tendency Surveys +46 8 453 59 06
Maria Billstam, Assignments, methods and samples +46 8 453 59 06
Sarah Hegardt Grant, Head of Communications+46 8 453 59 11
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