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Financial News: Sweden's Economic Sentiment Weakens Further In March

Sweden's Economic Sentiment Weakens Further In March

03/29/2017 - 04:53:00 (RTTNews)

(RTTNews) - Sweden's economic confidence weakened for the third straight month in March, survey data from the National Institute of Economic Research showed Wednesday.

The economic tendency indicator fell to a 4-month low of 109.2 in March from 110.8 in February. Economists had expected the index to drop to 110.6.

However, it still pointed to much stronger sentiment in the economy than normal, and all the sector indicators were above or well above their historical averages.

The confidence indicator for the manufacturing sector declined to 112.7 in March from 116.0 in the prior month. In contrast, it was forecast to rise to 117.0.

The decrease was mainly due to less optimistic production plans for the next few months.

Similarly, the consumer confidence index dropped more-than-expected to 102.6 in March from 104.3 a month ago. The expected reading for the month was 104.0.

The index measuring confidence in the total industrial sector decreased slightly to 108.5 from 108.7 in February, while the morale for the building and civil engineering sphere strengthened to 114.6 from 111.1.

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