Sweden’s economic tendency indicator strengthened in December signaling strong economic growth than normal, the National Institute of Economic Research said Monday.
The economic tendency indicator rose to 110.1 in December from 106.7 in November.
Firms remain optimistic with the manufacturing, construction and retail indicators all contributing to the increase. The manufacturing confidence index climbed to 114.3 from 108.1 a month ago.
The confidence indicator for the building and civil engineering industry increased to 113.1 in December from 112.5 in November. This was the fourth successive month that the indicator remained above 110.
At the same time, confidence among retailers improved in December, with the index rising to 116.7 from 115.0 in November. Meanwhile, the services indicator was unchanged at 106.5.
The consumer indicator also rose in December, but consumers remain slightly more pessimistic than normal about the economy. The corresponding index moved up to 98.7 in December from 96.4 in November.
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