Swedish economy loses confidence

Confidence in the Swedish economy has hit its lowest point for two years, according to a monthly survey carried out by the National Institute of Economic Research (Konjunkturinstitutet - KI).

With companies and households both concerned by recent economic trends, the barometer indicator measuring the overall mood reached its lowest ebb since 2005. But despite the drop, the indicator remained at a level that suggested a comparatively robust economy.

The confidence indicator for the business sector fell two points in November. It was the fourth month in succession that the indicator showed a downward trend.

Optimism among households took a major hit in November. Here the confidence indicator dropped from 17.7 to 12.2 points, which represented a two-year low.