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Sweden Economic Confidence Falls Slightly In November


Sweden’s economic confidence deteriorated for the sixth successive month in November, though marginally, survey results published by the National Institute of Economic Research showed on Tuesday.

The economic tendency index dropped to 84.5 in November from 84.8 in the previous month.

Further, this was the lowest score since July 2020, when it was 84.1.

Among sectors, the service sector’s confidence indicator decreased the most, falling to 85.2 in November. While sentiment is much weaker than normal, firms generally reported increased employment over the past three months, and their employment plans for the next three months are more optimistic.

The manufacturing confidence indicator lost 0.6 points from October to 104.2 in November, but remained stronger than normal.

The confidence indicator for retail trade rose somewhat to 75.3 from 75.0. Retailers, especially electronics retailers, suffer from widespread dissatisfaction.

Data also showed that the consumer confidence indicator improved to 55.8 in November from 50.2 in October. Nonetheless, the reading still showed weak sentiment.

Consumers were less pessimistic regarding their personal financial situation in the next twelve months.

*S&P CoreLogic Case-Shiller 20-City Home Price Index Up 10.4% YoY In September

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