STOCKHOLM (dpa-AFX) - Sweden's economic confidence deteriorated to the lowest level in one-and-a-half years in July, survey results published by the National Institute of Economic Research showed on Thursday.
The economic tendency index dropped to 101.3 in July from 105.7 in the previous month. This was the lowest score since January 2021.
All sectors except construction contributed to the decline. The consumer and retail indicators registered more than 10 points fall, and the consumer indicator plunged again from a record low.
The consumer confidence indicator sank to 54.1 in July from 66.5 in June. The micro index summarizing consumers' view of their own finances slid 17.3 points to 47.5, while the macro index summarizing their view of the Swedish economy as a whole dropped 4.0 points to 79.3.
The confidence index for the manufacturing industry dropped 1.2 points to 119.4. Meanwhile, the confidence indicator for the building and civil engineering industry rose to 107.1 from 106.6 a month ago.
The confidence indicator for the retail trade slumped 10.6 points to 92.8 in July, due mainly to ever weaker expectations for future sales volumes. At the same time, the confidence indicator for the service sector fell a moderate 1.4 points to 105.4.
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