Sweden’s economic confidence improved further in September, though it still remained below the normal level, survey results published by the National Institute of Economic Research showed on Wednesday.
The economic tendency index rose to a 10-month high of 97.2 in September from 96.3 in the previous month. Nonetheless, the indicator continued to signal weaker-than-normal sentiment.
Among sectors, the index measuring confidence in the manufacturing sector strengthened to 98.6 in September from 97.0 in August. Further, the index has now moved closer to the normal level of 100 as firms report relatively small stocks of finished goods, which has a positive effect on the indicator.
The morale in the trade sector remained more positive and improved to 104.5 from 103.5. Meanwhile, the morale in the services and construction decreased marginally in September and remained below normal levels.
The survey revealed that the consumer confidence index increased to a 7-month high of 93.2 from 91.6, though it still indicated weak sentiment.
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