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Sweden "still in a recession"

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19:52 CET+01:00
Sweden is still in a recession, according to Ingemar Hansson, head of the National Institute of Economic Research (KI).

"The general definition of a boom is that the utilisation of resources is high, i.e. it is difficult to get hold of labour. But, the utilisation of resources is low and therefore we are still in a recession," said Hansson who predicted a boom in 2006 at the earliest.

Drop in industrial production and incoming orders

Industrial production fell by 2.2 per cent in November in relation to October while there was a 1.9 per cent drop in incoming orders.

The statistics do however fluctuate considerably from month to month and during January-November 2004 industrial production rose by 4.3 per cent. Incoming orders rose by 2.1 per cent for the three-month period September-November compared to the June-August period.

Vattenfall sets its sights on Denmark

Vattenfall confirmed yesterday that it would be making a multi-billion crown bid for Danish Elsam by mid-January. Elsam is the main producer of wind power in the Nordic region and, according to Danish media sources, Vattenfall has indicated that Elsam is worth some 30 billion crowns.

The Swedish power company also denied that it was about to place a 12 billion crown bid on Københavns Energi.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

Supplied by BECK TRANSLATIONS.

With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

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