Sweden Economic Confidence Falls In February

(RTTNews) - Sweden's economic confidence decreased for the second straight month in February to the lowest level in four months, while consumers expressed a less pessimistic outlook, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index dropped to 100.1 in February from 102.9 in January. Nonetheless, the index is slightly above the normal level of 100.

Sentiment weakened in all sectors, except indicators for the consumers and construction.

The index measuring confidence in the manufacturing sector decreased to a 5-month low of 97.7 from 103.4, primarily attributable to subdued production plans.

The morale for the trade sector eased to 108.0 from 109.8, and that for the services dropped to 104.4 from 105.3.

Meanwhile, the confidence indicator for the building and civil engineering industry improved to 100.3 from 97.9, driven by more optimistic recruitment plans and a less negative assessment of the order book.

The survey showed that consumer confidence rose to a 4-month high of 96.3 in February from 95.0 in the previous month.

The rise in consumer confidence was mainly due to a more positive view of both the current financial situation of the consumers and the Swedish economy, compared with twelve months ago, the survey said.