Sweden Economic Outlook
March 3, 2020The economy slowed in the fourth quarter of last year, as fixed investment tumbled amid lower business confidence and despite ultra-low interest rates. Moreover, government consumption growth stalled in Q4, after accelerating in Q3, and exports fell at a faster pace than imports, leading the external sector to drag on the headline reading. More positively, private consumption growth firmed up slightly, despite the unemployment rate rising to an over three-and-a-half-year high in December. Turning to this year, the outlook looks mixed. On the one hand, economic sentiment rose to a nine-month high in February, primarily due to greater consumer confidence, and the jobless rate was unchanged in January, pausing a steady run of increases. On the other hand, the recent spread of coronavirus within Sweden and abroad could dampen economic activity towards the end of this quarter and further into the year.
Sweden Economic GrowthGrowth should remain subdued this year due to sluggish exports, a sagging construction sector and an expected increase in the unemployment rate. However, low interest rates and fiscal stimulus should support growth. A key risk to the outlook is the development of the coronavirus outbreak. FocusEconomics panelists see GDP rising 1.1% in 2020, which is unchanged from last month’s forecast, and 1.6% in 2021.
Sweden Economy Data
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|Bond Yield||0.15||-4.79 %||Jan 01|
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Sweden Economic News
March 26, 2020
The economic tendency indicator fell to 92.4 in March from a revised 98.7 in February (previously reported: 99.1), representing a near seven-year low.
March 16, 2020
On 16 March, the Riksbank announced a raft of new emergency measures to support the economy, in the face of significantly deteriorating economic prospects due to the coronavirus (Covid-19) pandemic.
March 12, 2020
Consumer prices with a fixed interest rate (CPIF)—which is closely followed by the Central Bank—increased 0.5% in February compared to the previous month, contrasting the 1.5% decrease in January and largely due to higher food prices. CPIF inflation slowed to 1.0% in February from 1.2% in January, marking an over four-year low and hitting the lower limit of the Central Bank’s 1.0%–3.0% tolerance band.
March 5, 2020
Industrial production excluding energy increased 1.5% in calendar- and seasonally-adjusted terms in January, contrasting the revised 1.3% decrease in December (previously reported: +1.6% month-on-month).
February 27, 2020
The economic tendency indicator increased to 99.1 points in February from the revised 97.3 points in January (previously reported: 97.1 points), representing a nine-month high.