Sweden Economic Sentiment Remains Weaker Than Normal

(RTTNews) - Sweden's economic confidence continued to remain weaker than normal in September despite rising slightly since August, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index edged up to 94.9 in September from 94.6 in August. Nonetheless, the index was still below the normal level of 100.

Sentiment has been comparatively stable since April, with the Economic Tendency Indicator largely unchanged, the survey said.

The index measuring confidence in manufacturing fell by 2.4 points to 94.2 in September as firms reported a further decline in orders from both the domestic and the export markets.

The morale for the construction also weakened to 95.4 in September versus 97.9 in August. Meanwhile, the confidence indicator for the service sector rose to 95.1 from 93.1 in the previous month.

The survey showed that consumer confidence improved to a 33-month high of 99.5 from 97.0 in August. The rise in confidence was driven by the strengthening financial conditions of households and their opinion regarding the Swedish economy.