Economic Tendency Survey, August 2011

The Economic Tendency Indicator fell a further three points in August and has thus declined nearly 12 points over the past three months. It is currently only a couple of tenths of a point above the average, indicating a considerable slowdown in growth in the Swedish economy.

Business: Broad-based slowdown in business sector

The confidence indicator for the business sector fell seven points in August and has declined a total of over 20 points over the past six months. All sectors of the economy contributed to the decline over the past month and the indicator is currently on a par with the historic average.

Consumer: Households increasingly pessimistic about personal finances and Swedish economy

Consumer confidence in the economic situation is increasingly gloomy in August. The Consumer Confidence Indicator (CCI), which measures confidence in personal finances and the Swedish economy, fell to 4.3 points, which is below the historic average. It has shown a downward trend since its peak in September 2010. This decline accelerated in July and August, resulting in the CCI for August falling to its lowest level since 2009. The Macro Index fell 15.5 points and the Micro Index fell 5.5 points in August.

For further information

Roger Knudsen Head of Economic Tendency Survey +46-8 453 59 06 +46-70-491 36 04

Torbjörn Lindquist Assignments, methods and samples +46-8 453 59 52

Sarah Hegardt Grant Head fo Communications +46-8 453 59 11 +46-70-267 80 41