Swedish Economic Confidence Strengthens In November

(RTTNews) - Sweden's economic confidence improved in November to the highest level in more than two years, though it continued to remain weaker than normal, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index rose to 97.2 in November from 93.6 in October. Nonetheless, the index was still below the normal level of 100.

Sentiment improved in all sectors, with the biggest rises in manufacturing and construction, the survey said.

The index measuring confidence in manufacturing improved to 95.8 from 91.6. The increase was driven mainly by stronger production plans.

The morale for the construction also rose by 4.2 points to 98.4 in November, and the service sector confidence strengthened by 2.7 points to 97.1. Meanwhile, the confidence indicator for the retail sector increased marginally to 106.0 from 105.3 in the previous month.

The survey showed that consumer confidence improved to 102.0 from 101.2. Consumers' expectations for the next year for both their personal finances and the Swedish economy are much more optimistic than normal.