Swedish consumer confidence falls

The Swedish consumer confidence indicator fell to 9.9 in November from 12.2 in October, the National Institute of Economic Research (KI) said.

The reading was below average market expectations of 13.0, as recorded by SME Direkt.

The indicator has now fallen for three consecutive months after a high for the year of 14.2 in August.

The Micro Index, which measures household expectations about personal finances, fell to 13.4 in November from 17.3 in October. The largest negative contribution related to whether respondents feel now is a good time for major purchases.

The Macro Index, a measure of household expectations about the Swedish economy, was also down in November compared with October.

“The decrease was due entirely to a gloomier outlook in November regarding total unemployment in the next 12 months,” said the Institute of the Macro Index.