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Sweden’s economy and ETF have improved enough that a leading thinktank in the nation is gearing up to raise its forecast for the coming year.

NIER, a state-sponsored institute which produces economic forecasts for the government, says it will raise Sweden’s outlook. The forecast for 2009 has been raised by a few tenths of a percent, while they see GDP growth in 2010 coming in around 2%. Their previous forecast called for a 5% contraction in 2009 and growth of 1.5% in 2010, reports Reuters.

Lending support to an upgrade is that consumer confidence improved in October, along with business confidence. Conversely, pessimism about unemployment and personal finances has declined, reports RTT News.

  • iShares MSCI Sweden Index (NYSEArca: EWD): up 50.9% year-to-date

Source: Why Sweden’s ETF Could See Smoother Sailing