Swedish growth weak – but better than expected

Sweden's economy is growing somewhat, but weaker than the historical average, shows new statistics.

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Swedish growth weak – but better than expected
Photo: Ali Lorestani/TT

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During the third quarter, Sweden's gross national product (GNP) increased by 0.3 percent compared to the previous quarter, according to the Statistics Sweden. Household consumption remains weak, unchanged compared to the previous quarter.

This can be compared to economists' expectations of minus 0.1 percent, according to Bloomberg's compilation.

Compared to the third quarter last year, growth was 0.7 percent.

"Sweden's GNP continued to develop somewhat weaker than the historical average", says Jessica Engdahl, section chief at National Accounts, in a press release.

Foreign trade in goods held back development, while a positive turnaround in inventory investments contributed to keeping growth above zero, according to the Statistics Sweden.

GNP is the sum of the value of all goods and services produced in the country.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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