The skyline in Sweden

Sweden Economic Growth (Nominal GDP, ann. var. %)

Economic Growth in Sweden

The largest Nordic economy avoided a technical recession by a whisker in Q1; GDP expanded 0.2% quarter on quarter (Q4 2022: -0.4% s.a. qoq), a preliminary national accounts release revealed. The upturn was chiefly due to a robust economic performance in January that more than offset declining GDP in both February and March. Both the manufacturing and services PMIs revealed conditions deteriorated markedly through the latter month. Moreover, while business and consumer sentiment improved, they remained pessimistic throughout Q1, likely due to further rate increases from the Riksbank in February, boding ill for spending and investment ahead. Additionally, price pressures remained elevated in Q1; diminished purchasing power and softer nominal wage growth in the first two months of the year hurt private spending, with consumption falling 0.5% month on month in February.

Sweden Economic Growth Chart

This chart displays Economic Growth (Nominal GDP, ann. var. %) for Sweden from 2013 to 2022.

Sweden Economic Growth Data

2017 2018 2019 2020 2021
Economic Growth (Nominal GDP, ann. var. %) 4.8 4.4 4.6 -0.2 8.4

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest