Sweden's gross domestic product shrank by 8.3 percent in the three months to June 2020, the steepest contraction since records began in 1981 and compared to a preliminary estimate of an 8.6 percent slump. Household consumption decreased by 7.7 percent led by lower spending on restaurant and hotel services, as well as lower household consumption abroad, while fixed investment dropped by 4.5 percent mainly explained by reduced investments in machinery and equipment. Public spending also declined by 2.4 percent and net external demand contributed negatively to the GDP as exports tumbled by 18.2 percent and imports decreased by 12.9 percent. source: Statistics Sweden
GDP Growth Rate in Sweden averaged 0.52 percent from 1981 until 2020, reaching an all time high of 3.40 percent in the first quarter of 2010 and a record low of -8.30 percent in the second quarter of 2020. This page provides - Sweden GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sweden GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Growth Rate in Sweden is expected to be 5.10 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 1.10 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.40 percent in 2022, according to our econometric models.