Sweden’s economic confidence improved marginally in June, after weakening in the previous month, survey results published by the National Institute of Economic Research showed Wednesday.
The economic sentiment indicator edged up to 108.7 in June from May’s 14-month low of 108.6 in May. Moreover, this continued to reflect strong sentiment in the Swedish economy.
The confidence indicator for the manufacturing industry dropped to 116.1 in June from 118.5 in May. The index was expected to fall to 116.
However, the index remained well above its normal level.
The confidence indicator for the building and civil engineering industry bounced back and the morale for the retail trade climbed for a second month in June.
The confidence indicator for the service sector also gained in June and reflects greater optimism than normal.
Meanwhile, consumer confidence worsened for the seventh successive month in June to a 21-month low of 96.8 from 97.9 in May. In contrast, it was expected to improve to 100.0.
The material has been provided by InstaForex Company – www.instaforex.com