Sweden Economic Confidence Falls In January

(RTTNews) - Sweden's economic confidence eased for the first time in seven months in January, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index dropped to 103.0 in January from 103.7 in the previous month, which was the highest reading since July 2022. Nonetheless, the reading is above the normal level of 100.

Among sectors, a more pronounced decline was seen in construction, while the confidence indicators for the other sectors decreased only marginally, the survey said.

The confidence indicator for the construction sector decreased to 97.6 from 99.9 in November amid more pessimistic employment plans.

The morale for the manufacturing segment eased to 103.6 from 103.8, dampened by a more pessimistic assessment of the size of the order book. Similarly, service sector confidence decreased to 105.3 from 106.1.

The survey revealed that the consumer confidence index dropped marginally to 95.3 in December from 95.6 in November. Consumers remain pessimistic about their own financial situation, while their assessment of the economic situation in Sweden is close to the normal level.