Pessimism rises among Swedish store owners

Confidence in the development of retail sales is at a record low among Sweden’s merchants.

Nevertheless, optimism persists among individual store owners regarding sales potential in their own stores, according to the Swedish Trade Federation’s Business Climate Barometer.

“The public debate about a possible economic slow down presumably plays a major role in the panel’s view of the business environment,” said Swedish Trade Federation vice president Yvonne Ingman in a statement.

According to the barometer, merchants believe that jewelry, electronics, and furniture stores will be hit hardest by an economic downturn.

Grocery stores, the pharmacy monopoly Apoteket, and Systembolaget, the alcohol monopoly are expected to best weather a weaker economy.