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2010.07.2904:58:00UTC+00Swedish Consumer Sentiment Strengthens In July

Swedish consumer confidence improved more than expected in July, the National Institute of Economic Research, or NIER, said Thursday. The corresponding index rose to 23.3 from 22 in June.

Economists were looking for a reading of 22.1. Consumer sentiment strengthened for the third consecutive month. Compared to June, households interest rate expectations increased this month. However, their assessment of the general economic situation in 12 months' time dampened.

Meanwhile, the economic tendency indicator fell to 111.3 in July from 111.6 in June, still signaling considerably stronger than normal sentiment among businesses and consumers.

The confidence indicator for the manufacturing industry fell five points between June and July. This fall is due to firms? more subdued production plans than in previous months, the survey found.

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