Retail expectations highest in a decade while household economics expectations in decline and new record in number of Swish transactions in a day
Retail indicator from the Swedish National Institute of Economic Research (NIER) is at its highest point since 2010 and has been climbing a lot since the pandemic hit and it is now at its highest point since 2010. If we look at the past 6 months it has increased with 7,3% which gives an optimistic view about the upcoming sales figures leading up to Christmas.In the meantime the micro household index from NIER has declined with 13,6% during the past 6 months. This is the first big drop in the micro household index since the pandemic hit when the index went down by a whopping 24% in just 2 months. Consumer micro index is now at the same levels as before Covid-19 started having an impact in Europe.
NIER conducts Konjunkturbarometern (Eng. The Economic Tendency Indicator) every month where they ask industry and people about their interpretation about the recent development and their outlook on the future. NIER conducts Konjunkturbarometern on behalf of the Swedish government and is part of the official statistics in Sweden.The retail index is based on a questionnaire asked every month to people working in the industry and the micro household index is questions about peoples believes about their private economic situation. Record breaking number of transactions in the Swedish payment solution app Swish where 3,4 million transactions where done Saturday after black Friday. Swish is used to transfer money and has gained traction during the pandemic as a payment solution in B2C payments as well, during October B2C payments stood for 1/3 of the transactions in the application.
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