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Dichotomy in the Swedish micro economy: Industries depressed - households happier

Thursday, 26 January 2012
The Swedish industrial sector continues to be depressed whereas households have become less pessimistic, according to a new business tendency survey.

The confidence indicator for industry continued to decline in January and backed the drive in December, according to the monthly survey conducted by the Swedish Institute for Economic Research (NIER).
The Tendency Indicator fell a further 1.5 units in January this year and now has overall declined nearly 24 points since its peak in February 2011.

"It is well below average. Since the peak for almost a year ago, the indicator fell just over 30 units, "writes the authority.

Most indicators that fell the most are the private service sector and the manufacturing situation that fared worse, while the indicator for the construction industry and retail remained positive. Still, however, the weakest position remained in the retail sector.

"Retail trade sales have fallen in recent months. The trend has clearly been the weakest for retail sale, while trade in motor vehicles shows unchanged volumes, "writes NIER.

In the manufacturing sector, production and employment fell.  The companies of the sector companies are nevertheless cautiously optimistic about the future.

"Orders are expected to rise from both domestic and export markets. Production is forecast to be unchanged, while employment is expected to decline further, "writes NIER.

Household pessimism on the other hand is seing some signs of reduction. Their confidence indicator rose more than six units from December, but is still well below the historical average. The sub-index that reflects the Swedes' views on their own household economy is back roughly to the average level.
By Scancomark.se Team

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