Economic sentiment indicator
The economic sentiment indicator is a combination of indicators that indicate what the beliefs and prospects of the industry and consumer are, regarding the state of the economy. The economic sentiment indicator is the weighted indicator for both the consumers and the industries. The economic sentiment indicator is a part of the tendency surveys.
The source of the numbers is a survey about what the estimations of key groups in society, about the state of the economy, their own financial situation, both the current state and the prospects.
The main findings of the survey are the economic sentiment indicator, which is a calculated number with the basis in the weighted indicators from the survey of the consumers and of the four industries. More about information about the indicators can be found on the theme pages.
A number does only have meaning if it is compared to historical data of the same question. To be able to make any conclusions about the number, the average is defined. The average can therefore be used to conclude whether the result is positive or negative.
The weight distribution and number of questions is shown below:
Consumers answer 15 questions, the weight is 20%
The primary sector answer 15 questions, the weight is 40%
The service industry answer 5 questions, the weight is 30%
The retail trade industry answer 5 questions, the weight is 5%
The manufacturing industry answer 6 questions, the weight is 5%
The questions differ for each group. The same questions are used in every country in the ECFIN collaboration. The method of conducting the survey is also the same for every country.
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Table in Statbank