• Sweden's news in English
 
app_header_v3
Sweden still on track for economic boom in 2016
Sweden's economy is performing well. Photo: Fredrik Sandberg/TT

Sweden still on track for economic boom in 2016

TT/The Local · 23 Mar 2016, 17:21

Published: 23 Mar 2016 17:21 GMT+01:00

However, unstable markets in the rest of the world could still cause jitters in the Nordics, said the National Institute of Economic Research (NIER), as it presented its new forecast on Wednesday.

"We're seeing that it's going to keep chugging along this year and next. Sweden will enter a boom period [an extended period of growth] this year, in the second half of the year more exactly," NIER head forecast analyst Jesper Hansson told the TT newswire.

The agency estimated that Sweden would see GDP – one of the key indicators used to gauge the health of a nation's economy – grow by 3.5 percent over 2016. But in response to a global financial slowdown the figures were adjusted downwards from a predicted 3.9 percent in December.

"We then revise [the figures] for Sweden. Exports and investments are somewhat weaker in this prognosis," said Hansson.

The new forecast comes a month after number-crunching agency Statistics Sweden revealed that the Nordic country saw a whopping 4.5 percent GDP boost last year.

"It was expected that it would be strong, but it was still a bit stronger than most had expected," the chief economist of Scandinavian bank Swedbank Anna Breman said at the time.

READ ALSO: Why Sweden is set for a financial boom in 2016

Story continues below…

Meanwhile, inflation is expected to remain below target levels of two percent, suggesting that Sweden's central bank is likely to keep the interest rate at record-low levels.

Earlier this year, the Riksbank cut its key interest rate by 15 basis points to an all-time low of -0.5 percent, citing the risk of slowing inflation and falling confidence in its monetary policy.

For more news from Sweden, join us on Facebook and Twitter.

TT/The Local (news@thelocal.se)

Today's headlines
Video
The top reactions to Swedish high heels handyman video
Andersson was in agony after a day of laying floors in high heels. Photo: Emil Andersson

What did The Local's readers think about this viral clip challenging sexist beauty ideals?

Transport authorities call for probe into tech glitch
SAS aircraft grounded at Arlanda airport last week. Photo: Johan Nilsson/TT

But officials say it was not sabotage that caused last week's network failure, which knocked out large parts of Swedish air traffic.

Why northern Swedes get the hots for sex toys
File photo of handcuffs. Photo: Gunnar Lundmark/SvD/TT

Where in Sweden do people buy the most sex toys? Kiruna in the far north, apparently.

Royal baptism day for Sweden's Prince Oscar
Prince Oscar with Archbishop Antje Jackelén. Photo: Jonas Ekströmer/TT

UPDATED: Royalty, dignitaries and other esteemed figures took to Stockholm's Royal Chapel for the ceremony.

Giant replica of Swedish 18th century ship up for sale
The Götheborg setting sail from Stockholm in 2008. Photo: Claudio Bresciani / TT

A replica of a doomed Swedish merchant vessel that sank in 1745 within sight of its home port of Gothenburg has been put up for sale.

Border checks
First migrants make it from Denmark to Sweden on foot
The Öresund bridge between Sweden and Denmark. Photo: Erland Vinberg/TT

Dozens of attempts have been made, but this is the first successful crossing since Sweden introduced ID and border checks.

Brexit
Poll: Swedes are worried about Brexit consequences
The possibility of Brexit has Swedes worried about the EU's future. Photo: Lars Pehrson/SvD/TT

Swedes are worried about what may happen both at home and abroad if Britain votes to leave the EU in June.

The Local Recipes
Fend off the bad weather with a Swedish beetroot salad
Beetroot salad with cumin and feta. Photo: John Duxbury/Swedish Food

Rain, rain, go away.

How a Swedish rocker saved the life of this cute baby elk
Erik Brodén's daughters Tyra and Brita with the elk baby. Photo: Private

Probably the sweetest story you'll read today.

Man sentenced over dinner party murder in west Sweden
The man during a preliminary court hearing last year. Photo: Björn Larsson Rosvall/TT

He stabbed his friend at a dinner party and attempted to kill two others.

Sponsored Article
How to find student housing in Malmö: 5 tips
Gallery
The best, cutest and funniest snaps from Prince Oscar's christening
Sponsored Article
Can you afford to live in Stockholm? (Hint: yes)
Travel
Is this town the best place in Sweden?
Gallery
People-watching: May 25th
Blog updates

27 May

Editor’s blog, May 27th (The Local Sweden) »

"Hej readers, Would you spend a day doing manual labour in high heels? That’s what Swedish…" READ »

 

17 May

What about “att”? (The Swedish Teacher) »

"Hej! It often seems like the small words are the ones that cause the most confusion.…" READ »

 
 
 
Sponsored Article
'Sweden gives artists the space to follow their dreams'
Society
WATCH: Why Swedish handyman wore pink high heels for feminism
Sponsored Article
Stockholm makes it easier for refugees to meet startups
Sport
LIST: Top-ten ridiculous things Zlatan has compared himself to
Business & Money
Why Swedes don't want the euro
Fastighetsbyrån
Gallery
Property of the week: Vika, Falun
Sponsored Article
Food, fun, and reliable sun: Summer in Dubrovnik
National
Is this the most Swedish tattoo ever?
Sponsored Article
How Stockholm startups help new employees feel at home
Gallery
People-watching: May 20th-22nd
National
How to really annoy a Swede abroad
Sponsored Article
'Only soft power can defeat radicalism'
National
How this war veteran is warming hearts in Sweden
Sponsored Article
Why Stockholm attracts so many successful researchers
Gallery
People-watching: May 18th
National
How this Swede's viral ad totally nailed Stockholm's housing crisis
Gallery
Property of the week: Vasastaden, Gothenburg
Sponsored Article
'Sweden gives artists the space to follow their dreams'
Lifestyle
The best Swedish cities for dating
Sponsored Article
Retiring abroad: ensuring your health is covered
Gallery
People-watching: May 13th-15th
Sponsored Article
Can you afford to live in Stockholm? (Hint: yes)
Culture
BLOG: Eurovision as it happened
National
Why a 116-year-old Swede isn't the world's oldest woman
National
Youth unemployment falls in Sweden
Gallery
People-watching: May 11th
Gallery
People-watching: May 6th-8th
Politics
Why Sweden's Greens are in free fall
National
Can these cartoon Swedes help foreigners blend in?
3,381
jobs available
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:
psdmedia.se