Swedish Economy Expands 0.6% QoQ in Q1

Sweden’s GDP increased 0.6 percent, seasonally adjusted and compared to the fourth quarter of 2012. Sweden’s GDP increased 1.7 percent, working-day adjusted and compared to the first quarter of 2012. The first quarter of 2013 had two working days less compared to the first quarter of 2012. This means that working-day adjusted GDP is 0.9 percentage points higher than actual GDP.

Household consumption expenditures increased by 1.5 percent and general government consumption expenditures decreased by 0.1 percent non-adjusted. Changes in inventories contributed 0.7 percentage points to GDP growth. Gross fixed capital formation decreased by 7.2 percent. Exports decreased by 2.9 percent and imports decreased by 4.7 percent. 

Production of goods and services increased 2.0 percent, working-day adjusted. Production of goods dropped by 0.2 percent and service-producing industries grew by 3.2 percent. Total employment measured as the number of hours worked decreased by 0.9 percent and the number of persons employed increased 0.8 percent.

Compared to the publication in March 2013, GDP growth in 2012 has been revised downwards by 0.1 percentage points.

Swedish Economy Expands 0.6% QoQ in Q1

SCB | Nuno Fontes | nuno@tradingeconomics.com
5/29/2013 9:05:19 AM