Sweden Economic Outlook
October 27, 2020A 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 GrowthThe 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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|Bond Yield||0.15||-4.79 %||Jan 01|
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Sweden Economic News
February 18, 2021
Consumer prices with a fixed interest rate fell 0.34% from the previous month in January, swinging from the 0.73% rise logged in December.
February 5, 2021
Industrial output increased 0.4% in month-on-month seasonally-adjusted terms in December, which matched November's 0.4% increase.
February 1, 2021
The economy expanded 0.5% in the fourth quarter of 2020, in quarter-on-quarter seasonally-adjusted terms, according to preliminary figures released by Statistics Sweden.
January 28, 2021
Economic tendency indicator came in at 100.0 in January, up from December's 95.9.
January 15, 2021
Consumer prices with a fixed interest rate increased 0.73% from the previous month in December, picking up from November's 0.05% increase.