A new report from the National Institute of Economic Research (NIER), released yesterday, shows that the Swedish economy is slowing faster than expected.
Trade wars, Brexit and the conflict around oil tankers in the Strait of Hormuz are contributing factors.
“The risk of the UK leaving the EU without a deal has increased since Boris Johnson became prime minister,” says Ylva Hedén Westerdahl, head of forecasting at NIER.
The labour force was expected to increase but instead fell by 0.2 per cent during the second quarter. Fewer investments were made within business and household consumption has not increased as much as earlier forecasts expected.
The NIER expects Sweden’s economy to grow by 1.5 per cent in 2019 and 1.3 per cent in 2020.
Ylva Hedén Westerdahl also says that there is no scope for the government to implement unfinanced reforms if the surplus target is to be met.
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