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Sweden CPI inflation 7.45% y-o-y (consensus 7.7) in Aug-23

- Sweden's CPI inflation in August 2023 recorded a slightly lower growth rate than expected, with a year-on-year increase of 7.45% compared to a consensus forecast of 7.7%.
- Despite this moderation, the current inflation level remains well above the one-year and long-run averages by 3.04 and 3.10 percentage points, respectively.

Sweden PMI services 49.04 in Aug-23

- The PMI for services in Sweden declined to 49.04 in August 2023, the lowest level since June 2023, suggesting a contraction in the services sector compared to the previous month.
- The PMI is 2.14 points below the one-year average, indicating a significant deviation from the long-term trend and potentially signaling a persistent weakness in the services industry.

Sweden PMI manufacturing 45.77 (consensus 45.7) in Aug-23

- The PMI for manufacturing in Sweden dropped to 45.77 in August 2023, marking its lowest level since June 2023, close to the 45.7 expected.
- The current reading indicates a contraction in the manufacturing sector, suggesting a potential slowdown or weakening in the Swedish economy.

Sweden consumer confidence 70.4 (consensus 75.1) in Aug-23

- Sweden's consumer confidence level decreased to 70.4 in August 2023, the lowest level since April 2023, indicating deteriorating consumer optimism, contrary to the consensus for a rise to 75.1.
- Although the current consumer confidence level is higher than the one-year average, it remains significantly below the long-run average.