Sweden GDP Q2 2022

Sweden

Sweden: Economic growth returns in Q2 and beats market expectations according to advanced data

July 28, 2022

The economy rebounded strongly in the second quarter of 2022, with GDP expanding 1.4% in seasonally-adjusted quarter-on-quarter terms, according to preliminary figures released by Statistics Sweden. The result was an improvement from the prior quarter’s 0.7% fall and doubled market expectations of a 0.7% expansion. Meanwhile, in calendar-adjusted annual terms, GDP grew 4.2% in the second quarter, coming in above the prior quarter’s 3.2% increase.

Although details of the release are still pending, the quarterly bounce-back likely came on the back of recovering private consumption, supported by a lower unemployment rate and strong annual wage growth. That said, the overall improvement was likely capped by mounting price pressures, which in turn dampened consumer sentiment in the quarter.

A more comprehensive breakdown of Q2 2022 GDP will be released on 29 August.

FocusEconomics Consensus Forecast panelists see GDP growing 2.2% in 2022, which is down 0.2 percentage points from last month’s forecast, and 1.5% in 2023.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Sweden? Download a sample report now.

Download

Sweden GDP Chart


Sweden GDP Q2  2022

Note: Quarter-on-quarter changes of seasonally adjusted GDP and year-on-year variation in %.
Source: Statistics Sweden (SCB).


Sweden Economic News

More news

Search form