Sweden Economic Outlook
October 27, 2020
A mild economic recovery appeared to take hold in Q3, following the previous quarter’s domestic demand-led contraction. In August, industrial output expanded briskly on a monthly basis, while annual retail sales continued their healthy growth trend. In September, the manufacturing PMI hit a 22-month high, with an uptick in demand and increased production driving the improvement. Moreover, despite the unemployment rate matching June’s over 10-year high in September, both consumer and business confidence continued to climb further in the same month, boding well for household and capital spending in Q4. However, a recent escalation of new infections is prompting renewed recommendations against public meetings and non-essential travel between outbreak hotspots, although more stringent measures as seen in other European countries are unlikely to be enforced.Sweden Economic Growth
The economy is projected to rebound in 2021 as the restrictive impact of the pandemic recedes. Private consumption and fixed investment should expand strongly, while continued public spending will further bolster the recovery in domestic demand. However, uncertainty around the evolution and duration of the pandemic clouds the outlook markedly. FocusEconomics panelists see GDP expanding 3.6% in 2021, which is down 0.2 percentage points from last month’s forecast, and 2.7% in 2022.Sweden Economy Data
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Sweden Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.15 | -4.79 % | Jan 01 |
| Exchange Rate | 9.36 | -0.20 % | Jan 01 |
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Sweden Economic News
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Sweden: Economic sentiment deteriorates in December
December 22, 2020
The economic tendency indicator fell to 95.6 in December from November's 97.2.
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Sweden: Inflation falls to lowest level since May in November
December 10, 2020
Consumer prices with a fixed interest rate increased 0.05% in November over the previous month, contrasting October's 0.04% drop.
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Sweden: Industrial output rebounds in October
December 7, 2020
Industrial output increased 1.2% month-on-month in seasonally-adjusted terms in October, which contrasted September's 1.7% decrease.
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Sweden: Growth hits multi-year high in Q3
November 27, 2020
GDP expanded 4.9% on a seasonally-adjusted quarter-on-quarter basis in the third quarter, rebounding strongly from the 8.0% contraction clocked in the second quarter and notably above the 4.3% expansion estimated in the preliminary Q3 release.
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Sweden: Riksbank holds rates unchanged in November; extends asset purchases
November 26, 2020
At its meeting on 26 November, the Riksbank kept its monetary policy unchanged, holding its key repo rate at 0.00% while expanding and extending its asset purchasing program. The decision came amid a more pessimistic outlook, with the Bank noting that “the autumn’s new wave of infections and stricter general guidelines mean that activity in some parts of the economy is showing a downturn again”.
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