Economic Tendency Indicator rebounds after two months in decline
The Economic Tendency Indicator climbed 1.5 points from 101.1 in March to 102.6 in April after falling more than 5 points in February and March. The manufacturing and retail indicators accounted for most of the improvement, with the indicators for building and civil engineering and private services almost unchanged, and the consumer indicator falling slightly. The indicators for building and civil engineering and consumer confidence are marginally below, and the other indicators above, the historical average.
Employment starting to rise
The confidence indicator for the manufacturing industry climbed 3.2 points in April after sliding more than 7 points in the two previous months and is now back above the historical average. Two of the three questions included in the indicator contributed to the increase: the assessment of current order books was more positive and production plans were revised up, while the assessment of current stocks of finished goods was slightly more negative.
The confidence indicator for the building and civil engineering industry was largely unchanged in April and remains close to the historical average. The two questions included in the indicator made contrasting contributions: the assessment of current order books was more positive, while employment plans were revised down slightly.
The confidence indicator for the retail trade climbed 2.7 points in April and is well above the historical average. All three questions included in the indicator made a positive contribution: both the assessment of stocks of goods and historical sales were more positive, and expectations for sales in the coming months were more optimistic.
The confidence indicator for the private service sector was almost unchanged in April and is still well above the historical average. Historical demand was unchanged from March, while expectations for demand in the coming months were slightly less optimistic and firms’ assessment of how their operations have developed was more positive
Consumers more downbeat about the Swedish economy
The consumer confidence indicator dropped 0.6 points from 99.6 in March to 99.0 in April and is just below the historical average. Three of the five questions included in the indicator made a negative contribution: the largest negative changes were in the assessment of the Swedish economy both at present and over the next 12 months.
For further information:
Roger Knudsen, Head of Economic Tendency Surveys +46-8-453 59 06
Maria Billstam, Assignments, methods and samples +46 8 453 59 04
Sarah Hegardt Grant, Head of communications +46-8-453 59 11
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