Financial News: Sweden Economic Confidence Rises Slightly In May

Sweden Economic Confidence Rises Slightly In May

(RTTNews) - Sweden's economic sentiment increased marginally in May, while consumers expressed a slightly less pessimistic outlook, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index rose to 99.3 in May from 99.2 in April. However, the index remained fractionally below the normal level of 100.

The proportion of firms expecting to raise their prices over the next three months increased relatively sharply and is now significantly above normal, the survey said.

Among components, the manufacturing confidence index improved to 100.5 from 100.0, and the trade sector morale strengthened further to 109.1 from 108.3 amid positive sales expectations over the next three months.

The morale for the service sector eased to 101.3 from 101.9, while that for the construction sector weakened to 99.6 from 100.3 as firms' assessment of the current size of their order books remains more negative than normal.

Confidence among consumers remained less pessimistic in May, with the respective index rising to 92.4 from 91.7 in April. Households were most pessimistic about their expectations regarding their own financial situation over the next twelve months and their attitude towards major purchases.

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