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Financial News: Sweden Economic Sentiment At 4-Month High

Sweden Economic Sentiment At 4-Month High

04/26/2017 - 03:50:00 (RTTNews)

(RTTNews) - Sweden's economic confidence strengthened more-than-expected in April to the the highest level in four months, survey data from the National Institute of Economic Research showed Wednesday.

The economic tendency indicator climbed to 112.8 in April 108.8 in March. In February, the score was 110.7. Economists had expected the index to increase to 109.5.

The increase in April was mainly due to the solid improvement in the manufacturing confidence, with the corresponding index rising to 123.2 in April from 111.9 in March.

Moreover, it was the highest score since 1996. The expected reading for the month was 113.0.

The index measuring confidence in the total industrial sector rose to 108.6 in April from 108.4 a month ago. At the same time, the morale for the building and civil engineering sector weakened to 114.4 from 114.5.

Data also revealed that the consumer confidence index improved to 103.4 in April from 102.6 in the prior month. It was forecast to rise to 103.5.

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