The Riksbank’s business survey – a quick indicator of economic activity

In this article, Jyry Hokkanen, Tore Melin and Alexander Nilson describe the methods used for, and the results of, the business survey that the Riksbank carries out three times a year. The aim of this survey is to provide information about the economic climate before the official statistical outcomes are available. The responses to the questions put to the companies thus complement the economic statistics and can therefore be used as an early basis for monetary policy assessments. They also help the Riksbank to perform a qualitative analysis that aims to discover and understand new aspects of economic development from the companies' perspective. The interviewed companies thus constitute an important network that facilitates the Riksbank's analysis of the business sector. The Riksbank also processes the companies' responses to create a quick quantitative indicator of economic activity. It was this indicator, together with the qualitative analysis, that enabled the business survey to capture the economic downturn in 2008 and the recovery in 2009 at an early stage.

The article is included in this year's third issue of the Sveriges Riksbank Economic Review, which was published on 17 October.