Sweden Economic Confidence Strengthens Further

(RTTNews) - Sweden's economic confidence improved for the sixth straight month in December to the highest level in nearly three-and-a-half years, survey results published by the National Institute of Economic Research showed on Friday.

The economic tendency index rose to 103.7 in December from 101.5 in the previous month. Moreover, this was the highest reading since July 2022 and remained above the normal level of 100.

Manufacturing was the sector where the confidence indicator increased the most, rising to 103.8 from 100.8 in November. The improvement was driven by stronger expectations for production volumes in the next three months.

The confidence indicator for the service sector remained more positive and rose to 105.9 from 104.1, and that for the trade sector increased to 110.4 from 109.0. Meanwhile, the construction confidence eased to 100.3 from 102.1.

The survey revealed that the consumer confidence index improved marginally to 95.8 in December from 95.7 in November. The outlook regarding household finance strengthened, while the general economic expectations in the Swedish economy weakened.