Swedish Confidence Drops as Economy Grapples With Virus Surge
Bloomberg 12/22/2020 Rafaela Lindeberg
(Bloomberg) Swedish overall confidence levels ended a seven-month climb in December, as the Nordic region’s largest economy tightened restrictions 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 Tuesday.
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“New containment measures, coupled with the fear of catching the virus, mean Sweden will start 2021 on a weak footing. Contact-intensive services will suffer most before the arrival of the vaccine helps the recovery take hold next year.”