Sweden Economic Outlook
May 31, 2022The economy should be recovering notable traction in the second quarter, following Q1’s setback. Underlying momentum slowed in Q1, as mounting price pressures and uncertainty weighed on consumer sentiment, and on spending in turn. Available data points to a brighter picture in the second quarter. In April, the unemployment rate remained at the joint-lowest level since March 2020, which should have supported private spending as the highest inflation rates in over three decades weighed on consumers. Further, both business confidence and economic sentiment were upbeat in the same month. Additionally, both the manufacturing and services PMIs revealed that conditions continued to improve at robust paces in April. On 18 May, Swedish and Finnish authorities submitted official applications to join NATO, abandoning long traditions of neutrality. Turkey could block their bids, however.
Sweden Economic GrowthThis year, economic growth is set to nearly halve, as both public and private spending growth decelerate from 2021’s strong return to growth. Lingering supply chain shocks, mounting price pressures and tighter monetary policy are risks to the outlook. Additionally, heightened geopolitical tensions cloud the outlook. FocusEconomics panelists see GDP expanding 2.7% in 2022, which is down 0.2 percentage points from last month’s forecast, and 1.9% in 2023.
Sweden Economy Data
5 years of Sweden economic forecasts for more than 30 economic indicators.
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Sweden Economic News
June 14, 2022
Consumer prices with a fixed interest rate increased 0.97% over the previous month in May, accelerating from the 0.58% increase seen in April.
May 30, 2022
Underlying momentum faltered in the first three months of the year, as GDP declined 0.8% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, worsening from the 0.4% decline reported in the preliminary estimate and swinging from the 1.2% expansion tallied in the fourth quarter of last year.
May 25, 2022
The economic tendency indicator (ETI) rose to 110.5 in May from April's 109.4.
May 12, 2022
Consumer prices with a fixed interest rate rose 0.58% in April over the previous month, which was below March's 1.73% increase.
May 6, 2022
Industrial output expanded 1.7% month-on-month in seasonally-adjusted terms in March (February: +0.3% mom).