Consumption in Sweden
Sweden - Consumption
Economic growth returns in Q2 and beats market expectations according to advanced data
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.
Sweden - Consumption Data
|Consumption (annual variation in %)||3.9||2.3||2.6||1.8||1.2|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.15||-4.79 %||Jan 01|
|Exchange Rate||9.36||-0.20 %||Jan 01|
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August 12, 2022
Consumer prices with a fixed interest rate dropped 0.16% in July over the previous month, swinging from the 1.25% rise logged in June.
August 10, 2022
Industrial output increased 1.3% in month-on-month seasonally-adjusted terms in June, which followed May's 0.9% increase.
July 28, 2022
The economic tendency indicator (ETI) came in at 101.3 in July, down from June's 105.7.
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.
July 14, 2022
Consumer prices with a fixed interest rate rose 1.25% from the previous month in June, accelerating from the 0.97% rise seen in May.