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Financial News: Sweden's Economic Sentiment Weakens In May

Sweden's Economic Sentiment Weakens In May

05/28/2019 - 05:57:00 (RTTNews)

(RTTNews) - Sweden's economic sentiment weakened in May due to weaker signals from manufacturing and consumers.

The economic tendency indicator dropped to 99.8 in May from 102.5 in April, survey results from the National Institute of Economic Research showed Tuesday.

The confidence indicator for the manufacturing industry, which has been trending down since September, fell 4.0 points to 103.7 in May. The consumer confidence indicator slid 4.5 points to 91.0, the lowest for more than six years as consumers were more negative about both their personal finances and major purchases.

The confidence indicator for the building and civil engineering industry edged down to 102.4 in May from 102.7 in April.

Meanwhile, the confidence indicator for the retail trade climbed for a third successive month to 106.6. The confidence indicator for the service sector was unchanged at 99.3 in May.

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