Sweden Economic Confidence Weakens in February

Sweden’s Economic Tendency Indicator declined to 100.1 in February 2026, the lowest level since late October, down from 102.9 in January. Manufacturing softened mainly due to subdued production plans that fell below historical averages, although relatively low finished-goods inventories provided some support. Confidence in both the trade and service sectors also weakened, with trade sentiment pressured by lower sales volumes over the past three months, partly offset by improved expectations for future sales. In the service sector, weaker recent activity and demand drove the decline. In contrast, construction confidence improved, supported by more optimistic hiring plans and a less negative assessment of order books. Consumer confidence also strengthened, reflecting a more positive view of household finances and the Swedish economy compared with a year earlier, although sentiment remained below normal levels.