STOCKHOLM (dpa-AFX) - Sweden's economic confidence decreased for the second straight month in February to the lowest level in four months, while consumers also expressed a less optimistic outlook, survey results published by the National Institute of Economic Research showed on Thursday.
The economic tendency index dropped to 97.1 in February from 97.4 in January. Moreover, the index was below the normal level of 100.
Sentiment improved in all sectors, except for the building and civil engineering industry.
The index measuring confidence in the trade sector improved to 109.0 from 106, and the morale for the manufacturing sector rose slightly to 95.6 from 94.6 but remained the weakest among the sectors in the business sector.
The confidence index for the service sector increased marginally and is in line with the historical average, while that for the building and civil engineering industry dropped to 99 from 100.9.
The survey showed that consumer confidence weakened to 95.0 in February from 98.3 in the previous month.
The decline in consumer confidence was mainly due to significantly lowered expectations regarding the development of the Swedish economy over the next twelve months. Households' outlook regarding their own financial situation also weakened.
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