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Sweden Mar. Economic Sentiment Improves More Than Expected

3/28/2012 3:15 AM ET

Sweden's economic confidence improved more than economists expected in March, data from a survey by NEIR showed Wednesday.

The economic sentiment indicator rose to 101.8 in March from 93.5 in February, marking the second consecutive growth. Economists were looking for a reading of 94.

Swedish consumers were less downbeat about economic conditions in March, with the corresponding index rising to zero from -3.2 in the previous month. Economists expected the index to rise to -2.

The indicator of confidence in the manufacturing sector improved sharply to 1 in March from -13 in February. Economists expected the index to rise to -11.

Swedish construction firms were markedly less pessimistic about their businesses in March, with the relevant indicator rising to -1 in March from -14 in the previous month. The measure of confidence in the retail sector rose sharply to 8 from zero in the previous month, while the private sector confidence index jumped to 22 from 9.

by RTT Staff Writer

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