Sweden Economic Confidence Rises To 40-Month High

(RTTNews) - Sweden's economic confidence strengthened in November to the highest level in more than three years, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index rose to 101.7 in November from 100.9 in the previous month. Moreover, this was the highest reading since July 2022, and remained above the normal level of 100.

Among sectors, the morale for the construction strengthened significantly, with the corresponding index rising to 102.5 in November from 98.0 in October.

The confidence indicator for the service sector remained more positive and improved to 104.3 from 102.7, and that for the manufacturing sector rose to 100.9 from 99.4. Meanwhile, the trade confidence eased to 109.3 from 111.6.

The survey revealed that the consumer confidence index weakened to 96.1 in November from 96.8 in October, mainly due to a more pessimistic view of their own financial situation over the next twelve months.