Financial News: Sweden Economic Confidence Rises Slightly In March

Sweden Economic Confidence Rises Slightly In March

(RTTNews) - Sweden's economic sentiment improved somewhat and moved closer to a normal level, while consumers expressed a more pessimistic outlook, survey results published by the National Institute of Economic Research showed on Wednesday.

The economic tendency index rose to 99.9 in March from 99.7 in February. Moreover, the index remained just below the normal level of 100.

All indicators within the business sector point to a normal sentiment, with the exception of construction, where conditions strengthened further and are now above normal, the survey said.

The morale for the construction sector advanced to a 42-month high of 103.1 in March from 101.2 in February, primarily driven by more optimistic employment plans, particularly within specialized construction activities.

The manufacturing confidence turned positive, and the index climbed to 100.7 from 97.7. Firms' expectations regarding the development of production volumes, along with their assessment of current order books, contributed to a stronger sentiment.

Meanwhile, the service sector confidence eased to 101.2 from 103.3, and that for the trade segment fell to 102.0 from 107.8.

Confidence among consumers remained weaker than normal in March, with the respective index falling to 95.2 from 96.3 in February. This was mainly due to a gloomy outlook regarding the Swedish economy and households' own financial situation.

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