Sweden Feb. economic tendency survey 100.1: est. 103.5

Sweden Feb. economic tendency survey 100.1: est. 103.5

Sweden’s Economic Tendency Indicator Falls Short of Estimates in February 2026

Sweden’s Economic Tendency Indicator for February 2026 is estimated at 100.1, significantly below the projected 103.5 and marking a decline from January’s reading of 103.0 according to Trading Economics. This follows six months of gradual improvement, with the indicator peaking at 103.7 in December 2025—the highest level since July 2022. The latest drop signals growing caution among businesses and consumers, though the index remains above the long-term average of 100.

Sectoral Insights Construction confidence recorded the sharpest decline in February, driven by pessimistic employment plans despite stable order books according to data. Consumer sentiment also weakened marginally, with households expressing caution about personal finances, though views on the broader economy remained neutral according to reports. Trade confidence eased slightly due to weaker past and expected sales volumes, though favorable inventory management helped mitigate the decline according to Trading Economics.

In contrast, manufacturing sentiment held strong, supported by improved sales expectations for the coming three months and stable order-book assessments according to data. The services sector saw modest declines, reflecting a less optimistic demand outlook, while recent business activity remained steady according to reports. Firms across industries reported normal past price increases but anticipate above-average inflationary pressures ahead according to data.

Broader Context The indicator’s decline contrasts with December’s robust gains, which were fueled by manufacturing and trade optimism according to Konj's analysis. November’s reading of 101.7 had already signaled sustained confidence, albeit with mixed sectoral performances according to Trading Economics. The February data, however, highlights emerging vulnerabilities, particularly in construction and consumer confidence.

Implications The moderation in economic sentiment underscores potential headwinds for Sweden’s recovery. Policymakers and investors will closely monitor upcoming data on household lending, producer prices, and corporate earnings to gauge the resilience of key sectors according to reports. While manufacturing and trade remain resilient, the broader economic climate suggests a need for cautious optimism.

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