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SWEDEN: GDP expands by 0.4% in the first quarter of 2017

posted onJune 24, 2017

Sweden’s GDP increased by 0.4 percent in the first quarter of 2017, compared with the fourth quarter of 2016 Statistics Sweden, the national statistics agency, said in a statement. Driven by strong consumption and investment, growth was 2.2 percent year on year.

Changes in inventories contributed to GDP growth by 0.1 percentage points, while gross fixed capital formation increased by 2.5 percent. Market production of goods and services increased by 0.8 percent. Production of goods increased by 0.5 percent and service-producing industries grew by 0.9 percent. Employment measured as the total number of hours worked increased by 0.6 percent and the number of persons employed increased by 1.2 percent.

Riksbank, the central bank of Sweden in its latest Monetary Policy Report published in April forecasts GDP growth rate of 2.8 percent this year and by just over 2 per cent per year in.