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Economic research unit dismisses warnings of jobless growth

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12:47 CET+01:00
Ingemar Hansson, director general of the National Institute of Economic Research (KI), last week dismissed claims that Sweden is in a period of jobless growth. He said that the warnings were based on deficient analyses, were groundless and that Sweden was following a normal pattern.

Hansson believes that the Swedish economy will continue to recover with high growth in 2005.

"However, high growth is not the same as a boom. That won't come until there starts to be a manpower shortage," he said.

KI's business tendency survey quarterly published yesterday reveals that industrial activity improved further in the fourth quarter but that the rate of growth declined somewhat at the end of 2004, compared with the beginning of the year. Capacity utilisation within industry is at 86 per cent, and within basic industry at 95 per cent.

In addition, Swedish households are becoming increasingly optimistic over the economic situation and believe that inflation will remain low at 1.4 per cent over 12 months.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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