Swedish Economic Confidence Lowest In 5 Months

(RTTNews) - Sweden's economic confidence weakened in July to the lowest level in five months, survey results published by the National Institute of Economic Research showed on Thursday.

The economic tendency index declined to 87.5 in July from 89.9 in the previous month.

Further, this was the lowest score since February, when it was 87.2.

Among components, the manufacturing indicator fell the furthest, but this remains the strongest sector, the NIER said.

The morale of the manufacturing sector dropped by 4.8 points to 97.1 in July, mainly due to lower production expectations.

The confidence indicator for the retail sectir rose by 1.5 points to 88.7, while the service sector confidence index edged down to 91.5.

The consumer confidence indicator improved to a 13-month high of 72.3 in July from 71.8 in June.