GDP (gross domestic product) fell by 0.8 percent in July compared with June. It was a bigger decline than expected, with economists' average forecast of minus 0.1 percent, according to Bloomberg.
"The decline in the Swedish economy continues for the second month in a row and economic activity is now back in line with the level we saw in the spring before the strong growth figures in May," says Mattias Kain Wyatt, economist at Statistics Sweden, in a press release.
On an annual basis, however, GDP has risen by 2.5 percent. In June, the annual growth rate was 2.9 percent, according to revised figures.
"However, the development figures compared with the previous year are still clearly above the historical average over the last ten years," says Mattias Kain Wyatt.
