MARKET TALK: Sweden Business Confidence Beats Views -Nordea

Sweden business confidence index beat expectations, says Nordea, as the National Institute for Economic Research survey shows confidence in the total business sector improved more than expected in March, to +11 from 0, just above the historical average. Notes the sentiment in the manufacturing industry improved sharply, in contrast to recent indicators seen abroad. Still, Nordea expects to see a sluggish GDP growth for 1Q and the labor market to deteriorate, "which will put pressure on the Riksbank to cut rates further." EUR/SEK trades at 8.8663.