Swedish Economy Expands 0.8% in Q3

The Swedish economy advanced 0.8 percent on quarter in the three months to September 2017, easing from a downwardly revised 1.2 expansion in the previous period and matching market expectations. Growth was driven by fixed investment while household consumption rose at a softer pace and net external demand contributed negatively.
Statistics Sweden | Joana Ferreira | joana.ferreira@tradingeconomics.com 11/29/2017 8:53:10 AM
Gross fixed capital formation grew sharply by 3.9 percent after an increase of 1.7 percent in the previous period; while changes in inventories subtracted 0.1 percentage points to the growth. Government spending went up 0.4 percent, following a 0.3 percent advance in Q2; and household consumption growth slowed to 0.4 percent in the third quarter from 0.8 percent in the previous period.

Net external demand contributed negatively, as imports jumped 1.6 percent (2 percent in Q2) while exports rose at a softer 0.7 percent (2.7 percent in Q2).

On the production side, production of goods increased by 0.7 percent (2.1 percent in Q2) and service-producing industries grew by 0.8 percent (0.9 percent in Q2). 

Employment measured as total number of hours worked increased by 0.5 percent seasonally adjusted and total number of persons employed rose by 0.4 percent.

Year-on-year, the GDP advanced 2.9 percent, following a downwardly revised 2.7 percent growth in the previous period and missing market expectations of 3.6 percent.

Swedish Economy Expands 0.8% in Q3