- Sweden edition
- Change edition:
- France |
- Germany |
- Norway |
- Switzerland
February 14, 2012
Swedish economy growing again: report
Published: 29 Jul 09 15:15 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/20982/20090729/
Growth has returned to the Swedish economy on a quarterly basis, according to a new report from the Scandinavian bank Nordea.
- Sweden boasts hefty budget surplus for 2011 (10 Jan 12)
- Ingves: Interest rates stable all year (2 Jan 12)
- Sweden cuts interest rate amid eurozone worries (20 Dec 11)
According to Nordea economists Sweden's GDP climbed by 0.3 percent during the second quarter in comparison with the first.
The bank's forecasters therefore warn of the need to raise the benchmark interest rate (repo rate) "significantly earlier" than the turn of the year 2011, which is the latest indication from Riksbanken.
Key factors behind the turn in the country's economic fortunes are concluded to be stronger private consumption and a more stable trade balance, Nordea argues.
"Tax cuts, low interest rates and climbing stock markets stimulate consumption," Nordea writes.
But even if the economic nadir has passed for this recession, 2009 is set to go down as one of the weakest years for growth in living memory.
On an annualized basis Nordea calculates that the recession has negatively impacted Swedish GDP by 5.7 percent.
Nordea's forecast is more positive than its finance sector colleagues, according to a survey by news agency Reuters.
The average forecast for the second quarter indicates a GDP decline of 0.4 percent on a quarterly basis and down 6.6 percent year-on-year.
This would mean that the record 6.5 percent annualized fall in the first quarter would be exceeded.
According to Olle Holmgren at Swedish bank SEB, talking to Reuters, GDP is still been hit by weak exports and lower levels of investment.
Riksbanken, which in July cut base rates to a record low 0.25 percent to stimulate growth, expects GDP for 2009 to be 5.4 percent lower that 2008 and will be followed by weak growth in 2010.
What do you think? Leave your comment below.
Fark It!
Digg This
Share everywhere
Send to a friend
Printable version
Twitter ThisEU to probe Sweden's 'economic imbalance'
Sweden is among twelve countries set to be discussed in a report from the EU commission, due to what the European Commission has identified as imbalances in the economy. READ (7 COMMENTS) »
House prices in Sweden begin upward climb
After observing a slight rise in real estate prices after the first month of 2012, Swedish realtors are hoping that this may be the beginning of a positive trend after last year's plummeting prices. READ »
Swedish recruiters check jobseekers on the net
40 percent of recruiters are checking potential employee’s social networking pages during the hiring process, a figure which has shot up from last year, according to a recent report. READ (3 COMMENTS) »
Narcolepsy victims in new compensation bid
Families of children in Sweden suffering from narcolepsy caused by vaccination for the swine flu can expect some form of compensation, Swedish health minister Göran Hägglund said on Sunday in response to new calls for help from parents. READ (1 COMMENT) »
Saab shares dive despite strong 2011 report
Swedish defence group Saab on Friday reported a major boost in earnings for 2011 thanks to winning several major contracts, but a drop in orders left investors jittery, sending Saab's stock price down nearly 10 percent. READ (3 COMMENTS) »
Mats Sundin in massive kid's health research gift
Mats Sundin, the ex-Swedish hockey great, has made a donation supporting research into children's health at Karolinska Institutet in Stockholm and the University of Toronto. READ (5 COMMENTS) »
H&M under fire over Cambodia mass faintings
H&M has been criticized for choosing not to attend a hearing to highlight poor conditions for textile workers in Cambodia, where hundreds of employees at a plant run by the Swedish fashion giant mysteriously passed out in August. READ (6 COMMENTS) »
SAS earnings hit by Spanair bankruptcy
The bankruptcy of Spanair pulled SAS into the red for 2011, despite improved operating profits, the Scandinavian airline reported on Wednesday. READ (2 COMMENTS) »
Saab to cut Swiss Gripen fighter price: report
Swedish defence group Saab have announced that it will cut the price on its Gripen fighter jet to secure its Swiss order after a threat by French planemaker Dassault to undercut them. READ (6 COMMENTS) »
Few Swedes ready to work until they're 75: poll
An overwhelming majority of Swedes disagree with Swedish prime minister Fredrik Reinfeldt's suggestion that workers should be ready to stay on the job until they are 75, a new poll shows. READ (34 COMMENTS) »
- 07/02 US ISPs block hacker probes: Swedish police (5 comments) »
- 06/02 Kinnevik in bid to buy up publisher Metro (2 comments) »
- 06/02 Fire brigade slammed for 'renting out' rooms (2 comments) »
- 03/02 New bidder in the Saab saga shows its hand (8 comments) »
- 03/02 Volvo group announces record sales for 2011 »
- 03/02 TeliaSonera reports profit drop for 2011 »
- 02/02 Electrolux profits plunge amid weak demand »
- 02/02 AstraZeneca job cuts hit Södertälje hard (8 comments) »
- 02/02 Europe's banks set for years of 'shrinkage': Borg (2 comments) »
- 01/02 'Underclass-safari' post lands official in trouble (1 comment) »
20 things to know before moving to Sweden
As diverse as Sweden is, there are a few societal norms that are distinctly Swedish. Understanding a handful of them will hopefully prepare you culturally before you relocate. When you're invited home to a Swede, you better be on time and take your shoes off, writes expat Lola Akinmade-Åkerström. Read more »
How far can English take you in Sweden?
Sweden is a country where almost everyone can speak English. So why bother to learn Swedish? Edina Varnagy from Hungary managed with English for a whole year but then found that Swedish could open doors – to a job, a social life and greater understanding. Read more »
| 14/02 | Business oriented Legal Counsel to Klarna Klarna AB |
Stockholm |
| 14/02 | Quality Manager Volvo information Technology AB |
Göteborg |
| 14/02 | Software Engineer (.NET) - Limited Contract Monster |
Prague |
| 14/02 | Build Master Volvo information Technology AB |
Göteborg |
| 14/02 | YOUNG TALENT PROGRAM - AUTOMATION ENGINEER FOOD PROCESSING Tetra Pak |
Lund |
| 14/02 | Key Account Manager Food Borregaard |
Sarpsborg |
| 14/02 | System developer within Q&A (Java och C) in Mid Sweden Qwork AB |
Karlstad |
| 14/02 | Regulatory Affairs Associate Poolia AB |
Göteborg |
| 14/02 | IT Development Graduates Danske Bank |
Copenhagen |
| 14/02 | Channel Marketing Campaign Manager/Specialist - B2B SAP |
Stockholm |
- 14/02 Investor confidence tops 10-month high »
- 14/02 OECD sees German growth slowing in 2012 »
- 13/02 Deutsche Bank 'to pay €800 mln' in Kirch case »
- 13/02 Greece leaving the euro not so scary - Germans »
- 10/02 Berlin defies EU over copyright deal »
- 10/02 Germans don't trust Greece to tighten belt »
- 09/02 Tourists flock to Germany in 2011 »
- 09/02 Daimler books record €6-billion profit »
- 08/02 Exports top €1 trillion despite euro crisis »
- 08/02 GM threatens major job cuts at Opel »
- 13/02 Looking for a long term appartment
- 13/02 Babysitter
- 13/02 flat or room available
- 13/02 Party Photographer
- 13/02 Apartment Near Arlanda
- 13/02 Apartment Needed Immediately
- 22:52 SFI - personal number loop...
- 22:45 E-Mail replies from Swedish Businesses
- 22:40 Driving on Autobahn
- 22:13 Where do you live?
- 22:13 Big Fat Gypsy weddings
- 19:17 Upper abdominal pain
- 18:20 Need to replace windows
- 18:05 Women drivers & safety
- 16:58 Volunteering in Sweden
- 16:01 What is death?
British-Australian Male Counsellor. Counselling Therapy for Depression, Mental Health, Sex, Relationship & Expat Issues
08-559 22 636 or CLICK HERE
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Therapy in English in Stockholm Trained in California Individuals & Couples (08) 93 81 48 FREE phone consultation
Visit anxiousorblue.se
The new Online Tennis Store with the largest selection of Babolat Products in Sweden
http://www.babolatshop.se
Turning Point Counselling centre offers the international community of Stockholm a safe space for personal development, counselling and coaching.
http://www.turning-point.se/show.asp
Swedish Down Town PR Consulting and Productions is an innovative business company which provides valuable assistance with Public Relations and Communications in the swedish and the international market.
www.swedishdowntown.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
thought this was referring to the official Q2 numbers ;o)
Also, here in Sweden, there are several industries which provide services and goods that people still require as a necessity that were really never effected by all of this global economic downturn. One is Telia (phone company) where my wife works. They did'nt have to downsize, but they did anyway and doubled the work load on those people they've kept.