Sweden’s economic sentiment improved unexpectedly in October, survey results published by the National Institute of Economic Research revealed Tuesday.
The economic tendency indicator climbed for the fourth successive month to 108.3 in October from 107.1 in the previous month. Economists had expected the index to fall to 105.0.
All parts of the business sector made positive contribution to the increase. The consumer confidence improved only marginally in October and continued to signal a degree of pessimism among consumers, the agency said.
The index measuring confidence in the manufacturing sector gained 1.2 points to 112.0 in October from 110.8 in September, while the expected score was 105.5.
The consumer confidence indicator rose slightly to 98.8 in October from 98.7 in the prior month. Economists had forecast the index to decrease to 98.4.
Total industrial confidence improved further in October. The corresponding index rose to 109.8 from 108.3 in September. The morale for retail trade and private sector also increased in October.
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