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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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