Swedish economy slows down. Sweden's GDP decreased by 0.5 percent in January, seasonally adjusted and compared to the previous month, according to the GDP indicator's preliminary compilation.
"The Swedish economy started the new year with a decline from high levels in December, with decreases in both household consumption expenditure and production in the manufacturing industry and construction activities," says Mattias Kain Wyatt, national economist at SCB in a press release.
Another sign of economic challenges is that household consumption decreased by 0.7 percent in January compared to December last year. On an annual basis, i.e. compared to January 2024, household consumption increased by 0.1 percent.
Among the industries most negatively affected, clothing trade stands out, which decreased by 3.9 percent compared to December and measured in seasonally adjusted terms.
In the opposite direction, the development went for the category "Transportation and retail trade with and service of motor vehicles" which increased by 11.6 percent.
