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Financial News: Sweden Economic Sentiment Drops Less Than Expected In

Sweden Economic Sentiment Drops Less Than Expected In October

10/27/2017 - 03:51:00 (RTTNews)

(RTTNews) - Sweden's economic confidence weakened marginally in October, but signaled much stronger growth than normal in the Swedish economy, survey data from the National Institute of Economic Research showed Friday.

The economic tendency survey index fell to 113.3 in October from 113.9 in September. Economists had expected the index to decline to 112.0.

The decrease was due to the manufacturing indicator dropping back slightly after its big jump in September.

The manufacturing confidence index dropped to 121.1 from 124.8. It was forecast to fall to 120.0.

The other business indicators all registered rises in October. The confidence indicator for the building and civil engineering industry gained 1.2 points.

The morale for the retail trade climbed 1.9 points to 103.1 in October, due mainly to more positive signals about sales in recent months. The consumer confidence index climbed to a 5-month high of 105.3 in October from 101.8 in the previous month. The index was expected to improve slightly to 102.0.

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