Sweden's economic confidence remained subdued in September despite a slight uptick from August, according to survey results released Thursday by the National Institute of Economic Research.
The Economic Tendency Index inched up to 94.9 in September from 94.6 in August, yet still fell short of the neutral 100 mark.
Sentiment has been relatively stable since April, with the index showing little variation, as noted in the report.
Manufacturing confidence dropped by 2.4 points to 94.2 in September, reflecting ongoing declines in domestic and export orders.
Construction sector morale also weakened, declining to 95.4 from August's 97.9. Conversely, the service sector saw an improvement, with its confidence indicator rising to 95.1 from 93.1 the previous month.
The survey highlighted a noteworthy rise in consumer confidence, reaching a 33-month high of 99.5 in September, up from 97.0 in August. This boost was attributed to improving household financial conditions and a more favorable outlook on the Swedish economy.
