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Swedish economy has tripped and veered off curse to the curb
Thursday, 26 July 2012
Sweden is a small country that wants to behave as a big economy.
However, its unfortunate position is that it relies most on exports for
survival. Therefore, as efficient as Sweden is in the inside, it cannot
influence how the outside will be.
The economic woes in the Euro zone plus places such the UK that does
not want to grow will mean that Sweden will also trip and fall off
course in its economic growth ambition.
The Swedish economic tendency Indicator, which summarizes the position
in the Swedish economy, fell to 96.1 in July from the revised 98.4 the
previous month (98.7), data from the think tank, National Institute for
Economic research, NIER, show in its Business Tendency Survey.
According to analysts' forecasts, there had been an expected barometric indicator of 97.3 in July.
The Economic Tendency Indicator is now nearly four points below the
historical average. It indicates that growth in the Swedish economy is
currently weaker than normal.
Of the sectors of the economy, which have shown more weakness, the
construction sector and private service sectors have show the largest
negative this month. The confidence indicator for manufacturing
industry rose slightly, while the indicator for the retail sector was
unchanged.
The confidence indicator for the retail sector is still slightly below
the historical average. It is, as before, significant differences
between the various industries and sales have developed the strongest
for food trade, while trade in motor vehicles continues to report lower
sales.
The confidence indicator for the private service sector is now 20 units
below the historical average. Both demand and employment was virtually
unchanged during the second quarter, which was significantly weaker
than firms anticipated for the quarter.
Service Firms' expectations are more cautious than before, but both
demand and employment forecast remain up slightly during the third
quarter. It is principally consultancy sectors and the recruitment and
staffing that anticipates growth.
by Scancomark.se Team
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