RTTNews - Swedish consumer confidence rose to 3.1 in August from minus 3.7 in July, the latest survey from the National Institute of Economic Research or NIER showed Wednesday. Economists had expected the index to rise to minus 0.4 in August.

The confidence indicator for the business sector continued its upward trend in August for the fifth straight month. Meanwhile, the confidence indicator for the manufacturing industry dropped to minus 20 from minus 19 in July.

The economic tendency indicator, which measures business and consumer confidence in the economic situation rose to 88.7 in August from 87.1 in July. However, the index stood below the expected level of 91.

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