2023.03.2911:55:00UTC+00Sweden Economic Confidence Improves Further To 88.2

Sweden's economic confidence rose for the second straight month in March, survey results published by the National Institute of Economic Research showed on Wednesday.

The economic tendency index rose to 88.2 in March from 86.2 in the previous month.

All sectors contributed to the improvement, but the retail trade and service sectors saw the biggest gains.

The manufacturing confidence indicator improved by 1.3 points to 103.4 in March, led by higher expectations regarding future production.

The retail sector confidence index rose by 3.2 points to 81.8 in March. Despite the increase, retail trade was the sector of business that showed the most gloomy mood.

The service sector confidence also climbed to 92.1 from 90.1. In the service sector, many companies expected prices to increase, but the percentage decreased in March.

Data showed that the index measuring confidence in the construction sector increased marginally to 95.1 in March from 94.6 a month ago.

The consumer confidence indicator improved to a 7-month high of 62.8 in March from 61.1 in February.

Households' expectations of their own economy and Sweden's economy in the next twelve months became less pessimistic in March.