No longer the worst – Sweden is climbing in the economy

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No longer the worst – Sweden is climbing in the economy
Photo: Wiktor Nummelin/TT

The EU economy is growing faster than expected this year, according to the European Commission's new autumn forecast. Sweden is climbing the growth league.

The spring forecast predicted an increase of 0.9 percent in the eurozone and 1.1 percent in the EU as a whole compared to the previous year.

Now the Commission instead believes in increases of 1.3 percent in the eurozone and 1.4 percent in the entire EU, despite what it calls a "challenging environment."

"The EU economy has continued to grow. Now, given the challenging external situation, the EU must act decisively."

"This means accelerating work on competitiveness, including simplification," writes Economic Affairs Commissioner Valdis Dombrovskis in a press release.

For Sweden, the European Commission expects growth of 1.5 percent this year, compared to 1.1 percent this spring. Sweden is thus almost back in the top half of the "growth league", after as recently as the beginning of 2024 having had the worst growth in the entire EU. Next year, Sweden is also expected to reach 2.6 percent in growth - the fifth best in the entire EU.

The jumbo spot has now been taken over by Finland, with expected growth of just 0.1 percent for 2025.

Wiktor Nummelin/TT

Facts: EU autumn forecast

TT

Here's what the European Commission thinks about growth in member states for 2025 and 2026

Ireland: 10.7 - 0.2

Malta: 4.0 - 3.8

Cyprus: 3.4 - 2.6

Croatia: 3.2 - 2.9

Poland: 3.2 - 3.5

Bulgaria: 3.0 - 2.7

Spain: 2.9 - 2.3

Lithuania: 2.4 - 3.0

Czech Republic: 2.4 - 1.9

Greece: 2.1 - 2.2

Denmark: 2.0 - 2.1

Portugal: 1.9 - 2.2

Netherlands: 1.7 - 1.3

Sweden: 1.5 - 2.6

Belgium: 1.0 - 1.1

Latvia: 1.0 - 0.7

Slovenia: 1.0 - 2.4

Luxembourg: 0.9 - 1.9

Slovakia: 0.8 - 1.0

France: 0.7 - 0.9

Romania: 0.7 - 1.1

Estonia: 0.6 - 2.1

Italy: 0.4 - 0.8

Hungary: 0.4 - 2.3

Austria: 0.3 - 0.9

Germany: 0.2 - 1.2

Finland: 0.1 - 0.9

Euro countries: 1.3 - 1.2

EU total: 1.4 - 1.4

Source: European Commission

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By TTEnglish edition by Sweden Herald, adapted for our readers

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