2018.08.3003:31:00UTC+00Sweden Economic Sentiment At 8-Month High

Sweden's economic sentiment improved unexpectedly in August to the strongest level in eight months, survey results published by the National Institute of Economic Research showed Thursday.

The economic sentiment indicator rose to 111.5 in August from 109.7 in July. Meanwhile, the index was forecast to fall to 109.0.

Moreover, this was the highest score since December last year, when it marked the same 111.5.

This level suggested a considerably stronger mood than normal in the economy.

The confidence indicator for the manufacturing industry strengthened to an 11-month high of 121.8 in August from 118.5 in July. The expected reading was 116.9.

Similarly, the confidence indicator for the total industry improved to 107.1 from 106.3.

The consumer confidence index climbed to 102.6 in August from 100.7 in the prior month. In contrast, it was forecast to fall to 100.0.