• Sweden edition
 

Swedish economy continues to grow

Published: 29 Jul 2011 10:47 GMT+02:00
Updated: 29 Jul 2011 10:47 GMT+02:00

The figures beat the expectations of analysts polled by the Dow Jones Newswire who had expected growth of 0.6 percent in the quarter and 4.9 percent on an annual basis.

Household consumption expenditures rose by 2.3 percent,w hile gross fixed capital formation increased by 8.1 percent.

In addition, exports increased 7.8 percent and imports 5.8 percent.

Total employment, measured as the number of hours worked, increased 1.8 percent while the number of employed persons increased 2.5 percent.

Sweden's new GDP growth figures are slightly higher than those expected by the Riksbank and in line with the expectations of Nordea bank, according to a statement by Nordea analyst Andreas Jonsson.

Export figures were also somewhat stronger than Nordea expected, while investment was somewhat lower.

"This speaks to our assessment that the Riksbank will continue with their austerity policies," said Nordea.

In the first quarter of 2011, Sweden reported an annual growth rate of 6.4 percent, one of the highest in Europe.

Without taking into account seasonal variations, the year-on-year growth of the Gross Domestic Product was 4.8 percent, the statistics office said.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

12:45 July 29, 2011 by andyron2
Good going..atleast the expectations of analysts are surpassed.
13:51 July 29, 2011 by Bigd
if year on year growth slowed to 5.3%, how is that the economy growing....

or do they mean this 'growth' from the expected 4.9%
14:04 July 30, 2011 by Joekara
Good GDP growth improved beyond expectation. A good reason to spend more.

Nearing Pensioner can ask my recomendation for the comming 15 years from now

You may put your mail Id on ( joevcanaan@gamil.com ) will definitly earn some benifit.
23:49 July 30, 2011 by Joeboyscout04
Ahh Sweden, stop growing so much! You're making the rest of us silly debt-ridden nations look bad!
01:18 July 31, 2011 by Smallnose
Good news. I'll ask my boss a midyear raise. A 5% pay increase sounds reasonable now.
09:14 August 2, 2011 by HYBRED
I have no evidence to dispute anything in this article. Having said that; there are economic problems in about every country in the world right now. I find it hard to believe that everything is so rosy in Sweden. I think the numbers in this article are a bit twisted to keep everyone's confidence up.
12:18 August 2, 2011 by Molnboman
Let's see how well the economy grows when we have to bail out GM later this month!
Today's headlines
Spotify founders win 'Expats of the Year'
Crown Princess Victoria and Spotify co-founder Martin Lorentzon Photo: Fredrik Sandberg/TT

Spotify founders win 'Expats of the Year'

Spotify founders Martin Lorentzon and Daniel Ek won the International Swede of the Year award (Årets svensk i världen) on Wednesday for their work in making the world's music accessible to the world. READ  

Getinge Floods
Swedish floods spread wider as rain continues
Photo: Anders Andersson/TT

Swedish floods spread wider as rain continues

UPDATED: The flood in southern Sweden spread further on Wednesday, with forecasters predicting rain all week. With the defence minister on the scene, officials have warned that up to 8,000 households risk evacuation. READ  

Top ministers count cost of 'less secure world'
Photo: Maja Suslin/TT

Top ministers count cost of 'less secure world'

Foreign and Finance Ministers Carl Bildt and Anders Borg held a press conference on Wednesday to discuss how Sweden was being affected by a "less secure" world, and how it would foot the bill for a growing influx of refugees. READ  

Volvo profits saved by Chinese devotion
Volvo Cars chief executive Håkan Samuelsson. Photo: Fredrik Sandberg/TT

Volvo profits saved by Chinese devotion

The now Chinese-owned Volvo Car Group announced a return to profits on Wednesday - thanks to the Swedish brand's popularity in China. READ  

Ikea founder gives giant donation to hometown

Ikea founder gives giant donation to hometown

Ikea founder Ingvar Kamprad donated a gift to his hometown on Wednesday to the tune of 53 million kronor ($7.7 million). The cash is to be used for developing the area. READ  

Police hunt masked thief after Stockholm fire
Photo: Fanni Olin Dahl/TT

Police hunt masked thief after Stockholm fire

The Slussen tunnel in Stockholm began billowing out black smoke on Wednesday afternoon. Police believe that the fire was connected to an attempted robbery earlier in the day. READ  

Elections 2014
Parties duel as refugee costs rocket
Photos: TT

Parties duel as refugee costs rocket

Prime Minister Fredrik Reinfeldt and opposition leader Stefan Löfven clashed on Wednesday after the Migration Board asked for more money to handle Sweden's influx of refugees. READ  

Introducing: Sweden's five minority languages
The Sami in northern Sweden. Photo: Fredrik Sandberg/TT

Introducing: Sweden's five minority languages

Did you know there are five official minority languages in Sweden? The Local's Isabela Vrba finds out what they are, how they're protected, and what rights their speakers have. READ  

Swedish docs puzzled by deformed penis trend

Swedish docs puzzled by deformed penis trend

More and more Swedish boys are born with deformed penises, and researchers are uncertain exactly what's behind the increase. READ  

The Local List
What Sweden means to you in just one Tweet
Photos: Shutterstock/Imagebank Sweden

What Sweden means to you in just one Tweet

The Local Sweden has been asking readers to squeeze their view of Sweden into just 140 characters or less. Here's what you came up with up for #SwedeninaTweet. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Society
Did you know the Bronx in NYC was named after a Swede?
Politics
"Iraq reminds me of the Yugoslav wars. It's the same story."
Society
Swedes slam Danes for 'racist' art
National
Majority of Swedes favour more or just as many refugees
Society
Lock your bathrooms: Swedish toilet invader on the the loose
Blog updates

17 August

Sea Fever (Around Sweden in a kayak) »

"I’m going to keep this post short and sweet as its not something I take any pleasure in writing. After much deliberation I have made the heartbreaking decision to abandon my trip after 1200km due to reoccurring injury. It is not a decision I have made lightly and it is one that has been truly devastating..." READ »

 

17 August

St. Louis strong (Blogweiser) »

"It’s typically a bad sign when my hometown makes news in Sweden. St. Louis was in the headlines here a few years ago when a tornado struck the airport. The city also caught attention after a politician talked about ‘legitimate rape’. Now, shooting and riots this week in Ferguson, a part of St. Louis, are..." READ »

 
 
 
Politics
'Assange will not leave until safe'
Gallery
See more images from the southern Sweden floods
Sponsored Article
Find out what gives this Swedish school executive appeal
Society
Serial chicken smuggler caught at Norway border. Again.
Society
This gold coin may be the key to solving a Swedish massacre
Shutterstock
Lifestyle
The Swedish mentor (and why you may need one)
National
Food agency warns girls: 'Don't eat stinky fish'
Politics
Reinfeldt calls for tolerance to refugees
Gallery
People-watching August 16-17
National
Sweden celebrates 200 years of peace
Society
Top ten literal Swedish words
Politics
'Terror training should be illegal': Liberal Party
Gallery
Swedes talk about 200 years of national peace
Politics
Islamic extremist shakes Sweden with TV threat
National
Teacher fined for 'Hitler salute' in German class
Politics
Swedish politician proposes ban on begging
National
Swede asks for epidural and gets disinfectant
National
Swede reports 'expensive' sex to police
Education
Sweden plans to scrap SFI for adult education
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

682
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se