STOCKHOLM (dpa-AFX) - Sweden's economic confidence increased for the fourth straight month in August to the highest level in more than four years, survey results published by the National Institute of Economic Research showed on Friday.
The economic tendency index climbed to 105.1 in August from 104.6 in the previous month. Moreover, the indicator remained stronger than in the normal sentiment.
The increase in August was driven largely by improved sentiment in the services sector, rising to 104.2 from 102.7.
Among other components, the retail confidence indicator strengthened to 114.2 from 112.9. This was the highest level since early 2022, especially driven by positive signals from durable consumer goods trade. Meanwhile, manufacturing morale declined marginally, and construction confidence eased but continued to indicate a normal level.
The confidence among consumers improved to 98.0 in August from 97.2 in July. Households' opinions regarding the current situation and outlook of the Swedish economy became more positive, while their personal financial situation over the next twelve months stayed unchanged.
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