Sweden's consumer confidence improved further in April, and to a larger extent than expected by economists, latest data showed Friday.
The consumer confidence index rose to 5.2 in April from 2.8 in March and -1 in February, and moved above the long-term average, the National Institute of Economic Research (NIER) said. Economists had forecast the index to 3.9.
Confidence in the Swedish manufacturing sector turned less downbeat in April, with the relevant sub-index rising to -8 from -10 in March, which was unchanged from the preceding month. Economists had forecast a more modest rise to -9 in April.
The economic tendency indicator, meanwhile, declined to 94.1 in April from 95.4 in March, and stayed below the historic average. The index was forecast to rise to 96.1.
The slump in economic sentiment reflected falls in the confidence indicators for the retail trade and the private service sector.
The indicator for retail trade dropped four points. The measure of confidence in the private service sector fell five points and is now ten points below the historic average. The sub-index for the construction industry climbed three points but is still considerably below the historic average, data showed.
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