Optimism among firms

The National Institute of Economic Research (NIER) published its economic tendency survey on Tuesday. The indicator climbed 1.6 points from 110.3 in December to 111.9 in January, with the manufacturing indicator rising sharply from 115.1 to 120.8.

Swedish firms continue to be confident about the economy. Consumers are more pessimistic than usual about the economy, but are more upbeat about their personal finances.

According to Nordea, the economic tendency indicator is at its highest in over five years, and on a par with a 6% rate of growth in the economy. However, Mats Dillon, head of NIER, says the strong manufacturing indicator, which pulled up the overall indicator, should be taken with a “pinch of salt”.