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Sweden Economic Sentiment Weakens For Second Month

Swedish economic sentiment weakened for a second straight month in November, but remained strong underpinned by the improvement in the manufacturing industry, survey data from the National Institute for Economic Research showed on Wednesday.

The economic sentiment indicator fell to 106.7 from 107.6 in October. That was weaker than the 107 reading economists had forecast.

The consumer confidence index also dropped for a second straight month, down to 97.5 from 98.5 in October. In contrast, economists had predicted a higher score of 99.5.

Meanwhile, the manufacturing confidence index rose to 116.2 from 115.3 in October. Economists were looking for lower reading of 114.4.

Confidence eroded in the construction industry for a third straight month, while morale improved in the retail trade sector. Service sector confidence fell for a second month in a row.

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