More and more households are planning to buy a car

The sentiment in the Swedish business sector has deteriorated over the past month, according to the National Institute of Economic Research (NIER). At the same time, optimism is increasing among households – with more car purchases on the horizon.

» Updated:

» Published:

More and more households are planning to buy a car
Photo: Pontus Lundahl/TT

Share this article

The so-called barometer indicator decreased in July by 1.4 units to 95.0.

"The decline is explained by a weaker sentiment in the service sector and manufacturing industry, while the confidence indicators increased among households and retail trade", writes KI in a press release.

The proportion of households planning to buy a car in the next twelve months increased relatively significantly.

"It is now approximately as many households as usual that plan to buy or replace a car. The proportion of households that consider it likely that they will buy a new home in the next twelve months is, however, still significantly lower than normal", writes KI.

The household confidence indicator increased by 2.9 units to 96.6. This means that households' view of the economy has brightened for ten months in a row and is close to the historical average.

Retail trade's sentiment is also somewhat more optimistic than normal. The indicator increased by 2.8 units to 101.8.

The service sector's indicator decreased by 2.8 units to 94.0, and the sentiment for the manufacturing industry fell by 2.2 units to 97.0.

As for companies' price plans for the next three months, they expect price increases at a normal pace.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Länsförsäkringar Swish Payment Issue Resolved

Länsförsäkringar Swish Payment Issue Resolved

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

France's Credit Rating Downgraded by Fitch

France's Credit Rating Downgraded by Fitch

Microsoft Gains Amid Mixed US Market

Microsoft Gains Amid Mixed US Market

FTC Investigates Google and Amazon Over Advertising Practices

FTC Investigates Google and Amazon Over Advertising Practices

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

ECB Officials Divided on Future Interest Rate Decisions

ECB Officials Divided on Future Interest Rate Decisions

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Microsoft to Remove Teams from Office Package in EU Agreement

Microsoft to Remove Teams from Office Package in EU Agreement

UK Economy Growth Stagnant in July as GDP Remains Unchanged

UK Economy Growth Stagnant in July as GDP Remains Unchanged

German Inflation Rises to 2.2 Percent in August

German Inflation Rises to 2.2 Percent in August

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods

Asian Stock Markets Rise on Week's Last Trading Day

Asian Stock Markets Rise on Week's Last Trading Day