Financial News: Sweden Economic Confidence Strongest In 20 Months

Sweden Economic Confidence Strongest In 20 Months

04/25/2024 - 04:19:00 (RTTNews)

(RTTNews) - Sweden's economic confidence improved in April to the highest level in more than one-and-a-half years, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index climbed to 95.0 in April from 93.9 in the previous month.

Further, this was the highest reading since August 2022, when it was 99.2.

The confidence indicator for the retail sector improved the most among business sectors, rising by 4.4 points to 102.7 in April. The increase mostly stemmed from food retailers.

The morale of the manufacturing industry rose to 100.5 in April from 98.6 in March, and went back to a normal level. The improvement was due to greater optimism about production volumes over the next three months.

The confidence indicator for the construction industry strengthened to 97 from 93.1.

The survey showed that the consumer confidence index increased to a 26-month high of 88.9 in April from 87.6 in March. However, a reading below 100 indicates pessimism among households.

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