The Swedish economy shrank 0.2 percent on quarter in the three months to September 2018, following a downwardly revised 0.5 percent expansion in the previous period and below market expectations of a 0.3 percent growth. It was the first contraction since the second quarter of 2013, as household consumption declined while government spending showed no growth. GDP Growth Rate in Sweden averaged 0.56 percent from 1981 until 2018, reaching an all time high of 2.50 percent in the first quarter of 1984 and a record low of -3.70 percent in the fourth quarter of 2008.

GDP Growth Rate in Sweden is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Sweden to stand at 0.50 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Sweden GDP Growth Rate
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-05-30 07:30 AM GDP Growth Rate QoQ 0.7% 0.7% 0.5% 0.8%
2018-07-30 07:30 AM GDP Growth Rate QoQ Flash 1% 0.8% 0.5% 0.6%
2018-09-13 07:30 AM GDP Growth Rate QoQ Final 0.8% 0.5% 1% 1%
2018-11-29 08:30 AM GDP Growth Rate QoQ -0.2% 0.5% 0.3% 0.5%
2019-02-28 08:30 AM GDP Growth Rate QoQ -0.2% 0.5%
2019-05-29 07:30 AM GDP Growth Rate QoQ 0.4%
2019-07-30 07:30 AM GDP Growth Rate QoQ Flash 0.4%



Swedish Economy Contracts For 1st Time Since 2013

The Swedish economy shrank 0.2 percent on quarter in the three months to September 2018, following a downwardly revised 0.5 percent expansion in the previous period and below market expectations of a 0.3 percent growth. It was the first contraction since the second quarter of 2013, as household consumption declined.

Household consumption fell 1.0 percent in the third quarter of 2018, after rising 0.5 percent in the second quarter of the year and government spending showed no growth (vs 0.5 percent in Q2).  Changes in inventories reduced 0.4 percentage points to the growth. Meantime, net trade contributed positively to the GDP, as exports rose 0.3 percent and imports dropped 0.6 percent. In addition, fixed investment increased 0.8 percent, rebounding from a 0.9 percent decline in the prior period.

On the production side, market production of goods and services dropped by 0.2 percent. Production of goods fell by 1.1 percent (vs -0.4 percent in Q2) and service-producing industries advanced by 0.3 percent (vs 1.0 percent). Employment measured as the total number of hours worked went up by 0.2 percent, and the total number of persons employed rose by 0.3 percent.

Year-on-year, the economy advanced 1.6 percent, slowing from an upwardly revised 2.7 percent expansion in the prior period and missing market consensus of a 2.3 percent growth.


Statistics Sweden | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/29/2018 9:58:25 AM



Sweden GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.20 0.50 2.50 -3.70 percent [+]
GDP Annual Growth Rate 1.60 2.70 7.80 -6.20 percent [+]
GDP 538.04 514.46 578.74 14.84 USD Billion [+]
GDP Constant Prices 1169836.00 1172534.00 1172534.00 515276.00 SEK Million [+]
Gross National Product 1184338.00 1219302.00 1233469.00 140327.00 SEK Million [+]
Gross Fixed Capital Formation 299809.00 297286.00 299886.00 99412.00 SEK Million [+]
GDP per capita 56935.19 56473.02 56935.19 18142.88 USD [+]
GDP per capita PPP 46949.28 46568.18 46949.28 29058.24 USD [+]
GDP From Agriculture 11669.00 11701.00 13663.00 9028.00 SEK Million [+]
GDP From Construction 65872.00 66538.00 71264.00 40277.00 SEK Million [+]
GDP From Manufacturing 159412.00 160735.00 178429.00 60377.00 SEK Million [+]
GDP From Mining 5136.00 5128.00 8331.00 4638.00 SEK Million [+]
GDP From Public Administration 205775.00 206753.00 207596.00 160899.00 SEK Million [+]
GDP From Services 544867.00 543314.00 544867.00 188361.00 SEK Million [+]
GDP From Transport 43175.00 43339.00 43389.00 22893.00 SEK Million [+]
GDP From Utilities 27846.00 28868.00 31292.00 13466.00 SEK Million [+]


Sweden GDP Growth Rate

On the expenditure side, household consumption is the main component of Swedish GDP and accounts for 46 percent of its total use, followed by government consumption (26 percent) and gross fixed capital formation (23 percent). Exports of goods and services account for 45 percent of GDP while imports account for 41 percent, adding 4 percent of total GDP. This page provides - Sweden GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sweden GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.50 2.50 -3.70 1981 - 2018 percent Quarterly




Country Last Previous
United States 3.40 Sep/18
South Africa 2.20 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Korea 1.00 Dec/18
Brazil 0.80 Sep/18
Spain 0.70 Dec/18
Canada 0.50 Sep/18
Netherlands 0.50 Dec/18
Australia 0.30 Sep/18
France 0.30 Dec/18
Japan 0.30 Dec/18
Mexico 0.30 Dec/18
Russia 0.30 Sep/18
Euro Area 0.20 Dec/18
United Kingdom 0.20 Dec/18
Germany 0.00 Dec/18
Saudi Arabia -0.05 Mar/18
Italy -0.20 Dec/18
Switzerland -0.20 Sep/18
Argentina -0.70 Sep/18
Turkey -1.10 Sep/18
Indonesia -1.69 Dec/18


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