Sweden’s economy is performing strongly and has exceeded expectations for the second quarter. Statistics Sweden presented strong GDP figures on Monday morning: GDP increased by 1 per cent compared to the previous quarter, and compared to the same quarter in 2017, GDP increased by 3.3 per cent.
Finance Minister Magdalena Andersson says, “This indicates a continued strong economy, although at the same time it is a quarterly figure and you should interpret this with care.”
Forecasters had on average predicted an increase of 0.4 per cent compared to the year’s first quarter and an increase of 2.5 per cent compared to the second quarter of 2017.
The National Institute for Economic Research (NIER) is cautious in its comments to the data, saying it believes capacity utilisation may be close to its peak, given the strong GDP growth. The theory might be that Sweden will need to import to meet demand, but imports have declined by 0.1 per cent. “We have some questions to ask of Statistics Sweden about the outcome,” says NIER’s Ylva Hedén Westerdahl.
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