Sweden Economic Forecast

Sweden Economic Outlook

September 26, 2017

Revised data from 13 September showed that the economy grew at a slower pace than initially reported in Q2, although the expansion was still impressive. The momentum was driven by the external sector, which offset weaker growth in domestic demand. However, recent data seems to indicate that the slowing propulsion has extended into Q3. The PMI, though still above the crucial 50-point mark, fell to its lowest level of the year to date in August on the back of weaker growth in production and new orders. On the other hand, recent unemployment data shows a bright spot for the Swedish economy: Joblessness decreased in the first two months of Q3, boding well for private consumption. Meanwhile, Prime Minister Stefan Löfven survived a motion of no confidence on 15 September by a wide margin following a data breach scandal.

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Sweden Facts

ValueChangeDate
Bond Yield0.61-3.30 %Oct 16
Exchange Rate8.11-0.13 %Oct 16
Stock Market1,638-0.25 %Oct 16

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Sweden Economic Growth

September 26, 2017

Economic growth is expected to decelerate significantly this year and next, though healthy labor market dynamics are likely to buttress private consumption. Fixed investment growth, driven by the construction sector, is also expected to remain solid. However, the economic panorama is clouded by the potential overheating of the housing market and household debt. FocusEconomics panelists see GDP rising 2.9% in 2017. For 2018, they see growth decelerating to 2.5%, up 0.1 percentage points from last month’s forecast.

Sweden Economic News

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