Sweden's Consumer Confidence Index (CCI) displays the level of consumer confidence in the stability of the country's economy. The index is calculated monthly based on a consumer survey conducted by the National Institute for Economic Research NIER in the first two weeks of the month.
Every month, NIER interviews approximately 1,500 Swedish citizens in a telephone survey. A random sample of citizens aged between 16 to 84 is compiled for the survey. During the interview, the participants are asked to assess their own financial situation, the current economic situation in the country and the opportunity of making large purchases and savings. The survey is qualitative in nature. It means that the respondents do not provide absolute figures, but assess the situation as better, worse, or no change.
Two components are calculated within the same framework: a micro-index and a macro-index. The first one reflects the confidence regarding personal finance, the second one addresses opinion regarding the entire Swedish economy.
Readings above 100 indicate consumer confidence and a favorable economic environment in the country. Therefore, a higher than expected growth can be seen as positive for the Swedish krona. Conversely, lower values can push SEK quotes down.
The chart of the entire available history of the "Sweden Consumer Confidence" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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