2020.05.2810:54:00UTC+00Sweden Economic Confidence Improves In May

Sweden's economic confidence improved in May but remained at a low level, survey data from the National Institute of Economic Research, or NIER, showed on Thursday.

The economic tendency indicator rose to 64.1 in May from 60.0 in April.

The consumer confidence climbed to 77.3 in May from 74.2 in the prior month. Consumers were more optimistic about their personal finances over the coming year.

Likewise, the manufacturing industry confidence rose to 76.8 from 71.4 in the preceding month, largely due to somewhat less pessimistic production expectations for the next three months.

The retail trade confidence index increased 3.0 points to 77.4 in May. The improvement was due to fewer firms expecting sales volumes to fall over the next three months.

The services sector confidence index advanced 2.6 points to 52.6 in May, but remained at record-low levels.

Meanwhile, the confidence indicator for construction and civil engineering decreased to 89 in May from 93 in the preceding month.