In the third quarter, GDP expanded 0.5% over the previous quarter in seasonally and working-day adjusted terms, which was below the 0.7% rise registered in the second quarter. However, the reading was above market expectations that had GDP expanding 0.2%. On an annual basis, the economy grew 0.7% in the third quarter, which was below the 1.3% rise seen in the second. On the domestic side, private consumption grew 0.2% (Q2: 0.0% quarter-on-quarter), while government consumption expanded 0.5% (Q2: +0.2% qoq). Gross fixed capital formation, on the other hand, fell 1.1% (Q2: -0.4% qoq). Exports of goods and services rose 0.1% (Q2: +1.3% qoq), whereas imports contracted 0.6% (Q2: +0.4% qoq). As a result, the external sector's net contribution to overall economic growth fell from 0.5 percentage points to 0.3 percentage points.
Economic growth slows in the third quarter
November 29, 2012
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Sweden GDP Chart
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.