2018.03.2703:43:00UTC+00Sweden Economic Sentiment At 1-Year Low

Sweden's economic confidence weakened further in March to the lowest level in one year, but still points to much stronger sentiment than normal, data from the National Institute of Economic Research showed Tuesday.

The economic tendency indicator dropped to 108.4 in March from 109.4 in the previous month. The index was forecast to decline to 108.0.

Moreover, this was the weakest score since March 2017, when it marked 107.7.

The decrease was due to a further deterioration in consumer confidence and slightly weaker signals from the service sector.

The consumer confidence index weakened to a 19-month low of 101.5 in March from 104.2 in February. Meanwhile, it was expected to rise to 104.6.

The manufacturing confidence index improved to 114.5 in March from 114.1 in the prior month. Economists had expected to index to fall to 112.2.