Swedish manufacturers upbeat, service sector and consumers less so

STOCKHOLM: Economic sentiment in Sweden picked up in Janaury, driven by the manufacturing sector, amid rising hopes that the start of vaccination against the global coronavirus pandemic will lead to stronger growth ahead, a survey showed on Thursday.

Overall economic sentiment rose 4.1 points to 100.0 points in January from the previous month, the National Institute for Economic Research said in a statement.

In the manufacturing sector, the sub-index rose 5.7 points to 113.3 points, while the service sector - the hardest hit by the pandemic - and consumers were also less gloomy, though sentiment there remains weak.

Confidence in the retail trade fell 1.9 points while the sub-index for construction was also down.