Swedish economy slowed down during the quarter

» Published:

Swedish economy slowed down during the quarter
Photo: Janerik Henriksson/TT

Share this article

Sweden's gross national product (GNP) increased by 0.9 percent in June compared to May, according to a preliminary so-called GNP indicator from the Statistics Sweden (SCB).

Compared to a year earlier, the Swedish economy grew by 1.9 percent in June.

During the second quarter as a whole, however, GNP decreased by 0.8 percent compared to the first quarter of the year. Compared to the second quarter last year, GNP was unchanged, according to SCB.

"The Swedish economy grew in June, but the development for the quarter as a whole was weighed down by weak figures for April", says Mattias Kain Wyatt, national economist at the agency, in a press release.

In May, the economy contracted by 0.1 percent compared to the previous month, according to revised statistics.

The GNP indicator provides an early picture of the economy's development and is based on a more limited statistical basis than regular quarterly and monthly figures.

Tags

Author

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

More news

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

US Stock Market Sees Slight Decline Amid Retail Sales Data

US Stock Market Sees Slight Decline Amid Retail Sales Data

Trump Extends TikTok Deal Deadline to December 16

Trump Extends TikTok Deal Deadline to December 16

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Diverse Savings Strategies

Swedish Households Shift from Borrowing to Diverse Savings Strategies

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

H&M Stock Rises Amid Stockholm Market Decline

H&M Stock Rises Amid Stockholm Market Decline

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Court Rules Fed Member Lisa Cook Can Stay Amid Trump's Challenge

Court Rules Fed Member Lisa Cook Can Stay Amid Trump's Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework