In the first quarter, GDP expanded 0.8% in seasonally and working-day adjusted terms over the previous quarter, which contrasted the 1.0% contraction seen in the last quarter of 2011. The figure overshot market expectations that had GDP rising 0.2%. The acceleration in economic growth was mainly due to a higher contribution to growth from the external sector, as exports rebounded from a 3.8% contraction in the fourth quarter to a 1.1% expansion in the first. Imports, on the other hand, declined 0.4%, mirroring the result observed in the fourth quarter. On the domestic side, private consumption stepped up to a 1.1% expansion, more than doubling the 0.5% rise seen in the fourth quarter. Government spending remained flat (Q4 2011: +0.1% quarter-on-quarter) and, finally, gross fixed capital formation grew 3.4%, up from the 1.5% rise seen in the fourth quarter.
Economic growth rebounds amid stronger exports
May 30, 2012
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Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: Statistics Sweden (SCB) and FocusEconomics Consensus Forecast.
Sweden Economic News
October 11, 2016
In September, consumer prices inched up 0.2% from the previous month, contrasting August’s 0.1% drop and falling short of market expectations of a 0.5% increase.
October 5, 2016
Industrial production dropped 4.1% from the previous month in seasonally-adjusted terms in August.
September 20, 2016
The Swedish economy lost steam in the first half of this year in comparison with 2015, although it remained amongst the best performing Nordic economies, which are suffering as the stagnation in global demand puts the brakes on their key exports sector.
September 13, 2016
In August, consumer prices inched down 0.1% over the previous month, contrasting both July’s 0.1% increase and market expectations of a flat reading.
September 7, 2016
At its 6 September policy meeting, the Riksbank decided to hold its repo rate at a record low of minus 0.50%, as expected by the market, and postponed the future interest rate hikes it had planned, which are now set for the second half of 2017.