Swedish Q2 GDP Growth Revised Up to 0.5%


Sweden's gross domestic product was upwardly revised to growth of 0.5 percent in the second quarter of 2016 from the previous three month period, following a 0.4 percent expansion in the first quarter. Government expenditure and fixed investment were the main contributors to growth while household consumption was unchanged and net external demand contributed negatively.

On a seasonally adjusted basis, general government expenditure expanded 1.2 percent (+0.6 percent in Q1); fixed investment advanced 1.8 percent (+1.7 percent in Q1); and inventories added 0.2 percentage points to growth. 

Meanwhile, household consumption showed no growth (+0.7 percent in Q1); and net external demand contributed negatively, as exports contracted 0.4 percent (-0.6 percent in Q1) while imports grew 0.8 percent (+1 percent in Q1).

On the production side, output of goods and services increased 0.5 percent (+0.4 percent in Q1). Service-producing industries grew by 1.4 percent (+0.8 percent in Q1) while production of goods decreased by 1.3 percent (-0.1 percent in Q1). 

Employment measured as the total number of hours worked increased by 0.4 percent and the number of persons employed increased by 0.6 percent.

Compared to the second quarter of 2015, the GDP advanced 3.4 percent, slowing from a 4.2 percent expansion in the the previous three-month period while beating preliminary estimates of 3.1 percent growth.

Statistics Sweden | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/14/2016 8:37:13 AM