Saturday , December 4 2021

Swedish confidence drops as economy grapples with virus


Swedish overall confidence levels ended a seven-month climb in December, as the Nordic region’s largest economy tightened curbs to battle a severe surge in Covid-19 infections.
The overall economic tendency survey fell to 95.6, from a revised 97.2 in November, with the drop “largely a result of firms being less positive about the current situation,” the National Institute of Economic Research said in a statement on Tuesday.
Manufacturing confidence dropped to 106.9, from revised 109.9, while consumer confidence rises to 92.3, from
revised 88.6.
Despite a renewed jump in cases, Sweden has so far stopped short of introducing a full lockdown, partly because it lacks the legal framework to
do more.
The new legislation, if passed, would give the government the right to shutter businesses and enforce limits on public transport.

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