(RTTNews) - Sweden’s economic tendency indicator, which measures business and consumer confidence in the economy, rose to 87.1 in July from 80.3 in June, the National Institute of Economic Research said Thursday. However, the report said that despite the substantial rise in the past three months, the indicator still indicted that the consumer and business sentiments were weaker than normal.

The consumer confidence indicator improved further in July. The indicator rose 5 points to 3.7, marking the third consecutive month of increase.

Business confidence improved to minus 14 in the July quarter from a low reading of minus 26 in the April quarter, reflecting an improvement in all the business sectors. Manufacturing confidence increased to minus 20 from minus 33, while construction confidence moved up to minus 33 from minus 40. The confidence in trade improved to minus 12 from minus 21.

The private sector confidence moved up 12 points to minus 8 in the July quarter, after having fallen since early 2007, the NIER said.

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