Swedes show growing confidence in economy

Business and consumer confidence are booming in Sweden, according to new figures from the National Institute of Economic Research (Konjunkturinstitutet - NIER).

Confidence rose 4.5 points between January and February, NIER’s economic tendency indicator shows.

The confidence indicator has risen steadily for each of the last ten months, as Sweden pulls itself out of the deep global economic crisis.

Apart from retail, all sectors contributed to the rise. The retail sector fell back in February following a record rise the previous month. The manufacturing industry was the highest climber, up seven points on January.

The current level, 107.7 points, marks stronger than normal business and customer confidence and is the highest level recorded since October 2007.

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