Tuesday, Sweden's National Institute of Economic Research or NIER said the consumer confidence indicator dropped to minus 16.5 in March from minus 14.6 in the previous month. Economists expected the indicator to come in at minus 13.8.

The manufacturing confidence indicator dropped to minus 42 in March from minus 35 in February. Economists were looking the indicator at Minus 34.

Meanwhile, the economic sentiment indicator, which measures business and consumer confidence in the Swedish economy, stood at 70.1 in March, down from 73.3 in February. Economists expected the indicator to come in at 73.

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