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Financial News: Sweden Economic Confidence Strengthens In September

Sweden Economic Confidence Strengthens In September

09/29/2020 - 07:38:00 (RTTNews)

(RTTNews) - Sweden's economic confidence strengthened further in September as sentiment improved in all industries except construction, monthly data from the National Institute of Economic Research, or NIER, showed Tuesday.

The economic tendency indicator rose to 94.5 in September from 87.6 in the previous month.

The confidence index in manufacturing gained 6.9 points to 94.5 due to more positive production expectations.

The confidence indicator for the building and civil engineering industry fell 4.4 points to 89.5 in September. This was the only index to show weakness in September.

In retail trade, the confidence index gained 7.5 points to 106.9, thanks to increasing optimism about sales volumes.

The confidence index for the service sector climbed 7.5 points to 86.5 in September, but the indicator signaled a very weak situation.

The consumer confidence index 88.3 versus 85.1 in August. Households were more positive about their personal finances and more upbeat about the Swedish economy, especially over the year ahead.

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