Financial News: Sweden Economic Sentiment Falls Slightly

Sweden Economic Sentiment Falls Slightly

08/29/2024 - 09:48:00 (RTTNews)

(RTTNews) - Sweden's economic confidence decreased in August and continued to show somewhat weaker sentiment than normal, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index dropped to 94.7 in August from 94.9 in July. Further, the index was still below the normal level of 100.

There were only minor movements of less than a point in all of the component sectors, the survey said.

The index measuring confidence in manufacturing rose marginally to 97.1 in August from 97.0 in July.

The morale for the construction segment improved to 98.2 in August versus 97.3 in July. The confidence indicator for the service sector rose by 0.8 points to 93.1.

Meanwhile, there was a slight decrease in confidence in retail trade, which fell to 101.7 from 101.8.

The survey showed that the consumer confidence was almost unchanged and still remained weaker than normal, with the index rising slightly to 96.3 from 96.2.

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