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Swedish economy grew 4.9 percent

Tuesday, 20 September 2011
Sweden's gross domestic product (GDP) grew 4.9 percent in the second quarter compared to same period last year.
Compared to the first quarter of this year, GDP grew by 0.9 percent, according to revised figures from Statistics Sweden (SCB).

Today's numbers mean then that Statistics Sweden has lowered the GDP growth from 5.3 percent in the second quarter compared to same time last year, to 4.9 percent.

Compared to the publication in July 2011, the GDP growth for the second quarter 2011, both actual and working-day adjusted, has been revised downwards by 0.4 percentage points. The first quarter 2011 GDP growth, actual and working-day adjusted, has been revised downwards by 0.3 percentage points.
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"Revisions have been made on several of a balance of components and is a result of more complete file has been used compared to the fast version," wrote the Swedish statistic office
Household consumption expenditures rose by 3.2 percent and general government consumption expenditures increased 1.0 percent.

The changes in inventories amounted to a negative GDP change of 0.2 percentage points. Gross fixed capital formation increased by 10.3 percent. Exports increased 7.1 percent and imports 6.0 percent. Production of goods increased 7.9 percent and service sector industries rose 6.0 percent working-day adjusted.

Total employment, measured as the number of hours worked, increased 1.7 percent while the number of employed persons increased 2.3 percent.
By Scancomark.se Team




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