Swedish Economy Sees 0.2% GDP Decline in July

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Swedish Economy Sees 0.2% GDP Decline in July
Photo: Mickan Mörk/TT

Swedish economy slows down. Sweden's gross national product (GNP) decreased by 0,2 percent in July compared to June, according to a seasonally adjusted indicator from the Statistical Central Bureau (SCB).

In annual rate, this means a growth in August of 2.0 percent according to calendar-adjusted figures.

The development was in line with expectations among analysts, according to Bloomberg.

Industrial production in July increased by 3.8 percent in annual rate, while household consumption increased 0.2 percent. Order intake in industry fell 1.4 percent in annual rate or 2.4 percent compared to the previous month.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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