Swedish economy continues to grow
Published: 29 Jul 11 10:47 CET | Print version
Online: http://www.thelocal.se/35232/20110729/
Sweden's economy expanded by one percent in the second quarter, while year-on-year growth slowed to 5.3 percent, data released Friday by the central statistics office (SCB) showed.
- Sweden’s Riksbank raises interest rates (5 Jul 11)
- Slower growth ahead for Swedish economy: report (22 Jun 11)
- Swedish GDP grows by 6.4 percent (27 May 11)
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.
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or do they mean this 'growth' from the expected 4.9%
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