STOCKHOLM (dpa-AFX) - Sweden's economic confidence decreased slightly in April to the lowest level in seven months, while consumers expressed a less pessimistic outlook, survey results published by the National Institute of Economic Research showed on Tuesday.
The economic tendency index dropped to 94.6 in May from 95.0 in April. Moreover, the index was below the normal level of 100.
The index measuring confidence in the manufacturing sector dropped to 100.1 from 100.2.
Most manufacturing firms report that they are either unaffected or only marginally affected by altered tariffs or uncertainty surrounding future tariff levels, the survey said.
The index for the retail sector confidence improved somewhat to 104.5 from 103.9. Meanwhile, the confidence index for the service sector dropped to 95.9 from 98.0.
The survey showed that consumer confidence rose to 83.1 in May from 81.8 in the previous month. Despite this increase, consumers continue to hold a highly pessimistic view of both their own economic situation and that of the Swedish economy.
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