Sweden: Economic sentiment improves further in March
The economic tendency indicator (ETI) improved for a second consecutive month in March; it rose to 88.2 from February’s 86.2. As such, the index moved closer to, but remained below, the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The upturn was broad-based; sentiment in the building, retail and services subsectors was less pessimistic in March, while optimism in the manufacturing subsector strengthened in the month.
Meanwhile, the business confidence subsector indicator rose to 91.7 in March, up from the prior month’s 89.4. Similarly, the consumer confidence sub-indicator increased to 62.8 in March, above February’s 59.0 reading.