Several negative signals of a slowdown in the economy emerged on Tuesday. For example, the Swedish industry purchasing managers’ index fell to 46.3 in September, from 51.8 in August, the biggest monthly decline since 2008.
In a new forecast, the Swedish Association of Industrial Employers lowered its growth forecast and now expects GDP growth to be 1.2 per cent this year and 1.1 per cent next year.
Even manufacturing companies in West Sweden are starting to be pessimistic.
“We entered 2019 at a fairly high tempo,” says Fredrik Wadsten, senior partner at the Triathlon Group which has published the annual Manufacturing Report, based on the 100 largest West Sweden manufacturers’ annual reports, as well as a survey. “We can see that 2019 is ending with declines in turnover, margins and recruitment. There is a change to the trend and all the graphs are pointing down.” Furthermore, as the krona fell to its lowest against the dollar in 17 years, the currency is no longer being considered as a help to the export industry.
We are a small, but qualified team of graduates in politics, economics, English and classics dedicated to providing quality news digests in English that offer readers a first-hand look at the most important topics covered by the Swedish press. Here you will find a selection of the articles that are published in our Swedish Press Review.