The Swedish economy grew 0.6 percent on quarter in the three months to March 2019, slowing from a 1.2 percent expansion in the previous period but beating market expectations of a 0.2 percent gain. Government spending grew much less (0.1 percent vs 0.4 percent in Q4) while both household consumption (-0.2 percent vs 0.6 percent) and fixed investment (-0.4 percent vs 1.1 percent) decreased. Changes in inventories provided no significant contribution to GDP growth in the first quarter. Meanwhile, net external demand contributed positively to growth, as exports rose (0.8 percent vs 3.1 percent in Q4) while imports fell (-0.7 percent vs 2.3 percent in Q4). Year-on-year, the GDP advanced 2.1 percent compared with a 2.4 percent growth in Q4 and market consensus of 1.7 percent. GDP Growth Rate in Sweden averaged 0.56 percent from 1981 until 2019, reaching an all time high of 2.50 percent in the first quarter of 1984 and a record low of -3.70 percent in the fourth quarter of 2008.
GDP Growth Rate in Sweden is expected to be 0.30 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 0.40 in 12 months time. In the long-term, the Sweden GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.