Sweden's Manufacturing Confidence Index reflects the optimism of the country's manufacturing companies regarding the current economic state. The index is calculated monthly as part of a common business trends survey, through an online survey conducted by the National Institute for Economic Research (NIER). Initially, this survey included only the manufacturing sector. Now it includes almost all sectors of the Swedish economy.
The National Institute interviews the managers of Swedish manufacturing companies on a monthly basis. The sample includes companies with at least 100 employees. Collecting all data from respondents takes approximately three weeks.
The weight of responses from a particular company depends on the volume of production, which is determined by the amount of value added. In other industries, companies are assigned weights based on the number of employees. These weights are updated every year according to the updated sample. The weighted responses are summarized and extrapolated as if all manufacturing sector companies participated in the survey.
Companies evaluate the current situation in terms of orders, finished product inventories, expected production volumes and employment. 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.
The Manufacturing Confidence Index is one of the key indicators characterizing the business environment and the general state of the country's economy. A reading above 100 indicates improving business conditions and positive sentiment in the Swedish business environment. This can be seen as positive for the Swedish krona. Readings below 100 indicate a worsening situation.
The chart of the entire available history of the "Sweden Manufacturing 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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