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Limited Christmas holiday days this year means boom to Swedish GDP

Friday, 23 December 2011
Technical analysis of the Christmas holidays and working week days in Sweden means that the structure of this year's calendar offers few non working days. This is a boost to the Swedish working accounting systems and has been analysed t have a positive impact on the GDP. However other argue otherise.

Christmas falls this year on a Saturday, providing full working week before Christmas. This is a real job givers Christmas and can be compared with 2008, when workers had time off three days in the Christmas week. With limited extra time to be taken off, the longer Swedish darkness could see some light in which Sweden can enjoy a new bulging gross domestic product


In Sweden this year, there are two full days more for Christmas in December than Christmas in 2008. According to estimates from the Confederation of Swedish Enterprise, it means that Sweden's GDP could expand by somewhere between Skr20 and Skr30 billion.
But the estimate, which is based on total GDP, will be spread across the year's working time, is rather square, and emphasizes Göran Grahn, economist at the Confederation of Swedish Enterprise.

According to him, companies tend to adjust production to the calendar, so the difference between employer-friendly Christmases and Christmases with lots of free working days need not actually be so great.

In many non working, such as in 2008, production tends to be planned in advanced.
"Businesses know when the weekend falls and often produces what they should, anyway, "he says.
From a consumer perspective, Christmases with lots of off days tend to have a positive effect on GDP, and vice versa.
"If you calculate GDP from the user side, in terms of consumption, so people go and act instead as companies standing still. So then GDP is raised on the road instead, "says Göran Grahn.

Anyone who is dissatisfied with this year's Christmas, will enjoyed together, three more working days in 2012 compared to this year. Next year, it is certainly a leap year, giving an extra day, but there will be a number of public holidays on weekdays. Total of 250 days next year, compared to 253 this year, according to the National Institute for economic research (NIER).

NIER estimates that GDP growth could be equal to or around 0.4 percentage points lower in 2012 compared to if it were an equal number of working days this year. The money equivalent to that will be in the region of Skr13 billion in lost productions.
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