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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Sweden Economic News
November 12, 2020
Consumer prices with a fixed interest rate dropped 0.04% over the previous month in October, swinging from September's 0.07% increase.
November 5, 2020
Industrial output declined 1.4% on a month-on-month seasonally-adjusted terms in September, which contrasted August's 6.8% increase.
November 5, 2020
The economy expanded 4.3% in the third quarter of 2020, in quarter-on-quarter seasonally-adjusted terms, according to preliminary figures released by Statistics Sweden.
October 29, 2020
The economic tendency indicator came in at 96.3 in October, up from September's 94.5.
October 13, 2020
Consumer prices with a fixed interest rate increased 0.07% over the previous month in September, swinging from the 0.15% fall recorded in August.