Swedish economy slowed down during the quarter

» Published: July 29 2024

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

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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.

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

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