Sweden’s economic sentiment weakened in February due to slightly more subdued signals from builders and consumers, survey data from the National Institute of Economic Research showed Tuesday.
The economic tendency indicator slid to 109.5 from 110.1 in January. This was the lowest score since March 2017, when the reading was 108.3.
Although the indicator has declined for three consecutive months, it still points to a much brighter situation than normal in the economy, the think tank said.
The consumer confidence index dropped to 104.7 in February from 106.7 in January.
The manufacturing sentiment index came in at 114.0 versus 113.9 a month ago. The indicator was almost unchanged from January and points to a very strong situation in the industry.
The confidence indicator for the building and civil engineering industry fell 3.3 points to 106.2 in February.
The confidence indicator for the retail trade climbed in February, due mainly to stronger expectations for sales in the coming months. The corresponding index stood at 105.8.