Sweden Economic Sentiment Rises In August

(RTTNews) - Sweden's economic confidence increased for the second straight month, though it still remained below the normal level, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index rose to a 6-month high of 96.0 in August from 93.1 in the previous month. Nonetheless, the indicator continued to signal weaker-than-normal sentiment.

Among sectors, the index measuring confidence in the service sector strengthened to 99.2 in August from 97.0 in July. Further, the index has now moved closer to the normal level of 100 amid positive expectations regarding demand developments over the coming three months.

The morale in the retail sector improved sharply, while that in the construction sector rose marginally. Confidence in the manufacturing sector improved to 97.0 from 95.8.

The survey revealed that the consumer confidence index increased somewhat to 91.1 from 90.8, though it still indicated weak sentiment.