Swedish growth unexpectedly declines, consumption increases

Analysts had expected GDP to increase by 0.5 percent in January, on average, according to a Bloomberg compilation of forecasts.

Compared to January last year, growth in the first month of the year was 0.6 percent.

"The Swedish economy began the new year with declining production in manufacturing and construction, as well as in public authorities," says Neda Shahbazi, economist at Statistics Sweden, according to a press release.

Household consumption in January increased by 0.7 percent compared to December last year, measured in constant prices and after calendar correction and seasonal adjustment. And compared to January 2025, the increase was 2.8 percent, according to Statistics Sweden.