Fewer Swedes foresee rise in consumption

Only 10 per cent of Swedish households expect to increase their consumption next year despite the government proposal for 2005 and the improved economic climate, according to a survey by Research International commissioned by Föreningssparbanken. The survey results show that nearly two-thirds of Swedes consider both their private finances and general economy to be on the same level as six months ago.

Among those polled, single parents and single pensioners find it more difficult to make ends meet.

Venture capitalists flee biotechs

The biotech sector no longer captivates venture capitalists, reported SvD, noting that in just two years investment in biotech has fallen 60 per cent. In 2001, Swedish venture capitalists pumped in 2.6 billion crowns into biotech companies. The corresponding amount in 2003 was SKr 1.1 billion.

SAS report

SAS posted profit of 57 million crowns for Q3, which is a tenth of the amount generated during the same period last year. For the nine-month period, pre-tax loss was 1.526 billion crowns (loss: 1.225) on sales of 43.133 billion crowns (43.930).

Overcapacity and high fuel prices continue to plague the airline group. However, CEO Jörgen Lindegaard could console himself with the thought that the consolidation in the industry that he had longed for appears to be underway. He also said that SAS “is fundamentally better equipped for 2005 and this will be a good start”.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri


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