Sweden’s Economy Expands More Than Estimated

Sweden's economyA transporter moves a shipping container in the storage depot at Copenhagen Malmoe Port, in Malmoe. Photographer: Linus Hook

Sweden’s Economy Expands More Than Estimated

Sweden’s economy grew more than estimated in the last quarter of 2015, after the central bank presented record stimulus to defend its inflation target.

According to a statement released by Statistic Sweden, the economy grew 1.3 percent from the third quarter beating 0.7 percent forecasted by economists surveyed by Bloomberg.

Year on year, it grew 4.5 percent compared with a 3.6 percent predicted. The Krone surged 0.4 percent to 9.32 per euro.

Fixed investment rose 2 percent in the fourth quarter, while imports rose 2 percent and exports surged 2.9 percent. Consumer spending rose 0.9 percent. In 2015, the economy grew by 4.1 percent.

“Everything looks very good,” Roger Josefsson, chief economist at Danske Bank, said by telephone. “It’s a strong number and it’s welcome that exports were so strong as exports have been missing in the economic recovery since the financial crisis.”

The central bank has previously cut interest rates below zero and introduced QE program to stimulate the economy in an effort to meet its 2 percent inflation target.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

Be the first to comment on "Sweden’s Economy Expands More Than Estimated"

Leave a comment

Your email address will not be published.