Sweden Economic Outlook
December 20, 2019The economy expanded at a slightly faster pace in the third quarter, boosted by both fixed investment and government consumption swinging from contraction to expansion. However, private consumption growth moderated, likely on the back of a recent increase in the unemployment rate and weak consumer confidence. On the external front, export growth outstripped import growth, boosting overall growth. Turning to the fourth quarter, the economy seems to be maintaining steady momentum, as suggested by a stabilization of consumer confidence in the quarter, which was likely in part due to higher housing prices and continued low interest rates. However, output from the manufacturing sector likely declined in Q4, as suggested by both PMI and sector-specific business confidence data.
Sweden Economic GrowthNext year, economic growth seems set to remain soft, dragged on by sluggish export growth and an expected increase in the unemployment rate. However, still-accommodative monetary policy and slightly expansionary fiscal policy should both support growth. FocusEconomics panelists see GDP rising 1.2% in 2020, which is unchanged from last month’s forecast, and 1.6% in 2021.
Sweden Economy Data
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Sweden Economic News
January 15, 2020
Consumer prices increased 0.4% in December from the previous month, up from the 0.1% increase in November and partly due to more expensive transport prices.
January 10, 2020
Total industrial production excluding energy increased 2.1% in November in seasonally- and calendar-adjusted terms, contrasting the revised 1.7% decrease in October (previously reported: -1.8% month-on-month).
December 18, 2019
The economic tendency indicator decreased to 93.3 points in December, down from the revised 94.6-point reading in November (previously reported: 94.7 points).
December 11, 2019
Consumer prices increased 0.1% in November, up from the flat reading in October, and partly due to more expensive housing, water, electricity, gas and other fuels, which more than outweighed cheaper transport prices.
December 6, 2019
Total industrial production excluding energy decreased 1.8% in October in seasonally- and calendar-adjusted terms, down from the 1.0% moderation in September.