Swedish GDP Grows 0.7% QoQ in Q1

The Swedish economy advanced by 0.7 percent on quarter in the first three months of 2018, the same pace as in the previous three-month period and above market expectations of a 0.5 percent rise. Household consumption rose faster and fixed investment rebounded.
Statistics Sweden | Luisa Carvalho | luisa.carvalho@tradingeconomics.com 5/30/2018 8:19:40 AM
Household consumption went up by 0.8 percent in the first quarter of 2018, following a 0.7 percent increase in the previous period. Also, gross fixed capital formation rebounded significantly (2.8 percent vs -0.8 percent in Q4) and changes in inventories added 0.1 percentage points to GDP growth. Meanwhile, government spending rose at a softer 0.1 percent (0.2 percent in Q4).

Net external demand contributed negatively, as exports fell 0.2 percent (2.0 percent in Q4) while imports advanced 1.0 percent (the same pace as in Q4).

On the production side, production of goods went up by 1.1 percent (1.3 percent in Q4) and service producing industries rose by 1.2 percent (0.6 percent in Q4).

Employment, measured as the total number of hours worked, was unchanged, and the total number of persons employed increased by 0.6 percent, seasonally adjusted.

Year-on-year, the GDP grew 3.3 percent after a downwardly revised 2.9 percent in the fourth quarter, but slightly below market estimates of 3.4 percent.

Swedish GDP Grows 0.7% QoQ in Q1