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Financial News: Sweden Consumer Confidence Weakest In Nearly 7 Years

Sweden Consumer Confidence Weakest In Nearly 7 Years

09/26/2019 - 07:02:00 (RTTNews)

(RTTNews) - Sweden's consumer confidence fell unexpectedly in September to its lowest level in nearly seven years, survey data from the National Institute of Economic Research showed on Thursday.

The consumer confidence index decreased to 90.6 in September from 93.3 in August. Economists had expected a score of 94.2.

The latest reading was the lowest since December 2012, the think tank said.

Expectations for an increase in unemployment contributed most to the decline in consumer confidence.

The economic sentiment measure rose to 94.6 in September from 95 in the previous month. Economists had forecast a score of 95.2.

The manufacturing confidence index increased to 96.7 in September from 95.6 in the preceding month. Economists had expected a score of 95.0.

The retail trade confidence index rose to 105.6 in September and the measure for construction morale increased to 101.8.

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