Sweden Economic Forecast

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.

Sample Report

5 years of Sweden economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Sweden Facts

Value Change Date
Bond Yield0.15-4.79 %Jan 01
Exchange Rate9.36-0.20 %Jan 01

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Sweden Economic News

Search form