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Sweden's economy is surprisingly growing strong
Wednesday, 30 May 2012
economy developed surprisingly strong in the first quarter just as some
leading economies posted negative or no growth. Household consumption,
exports and investment were the main drivers to this growth.
during the first quarter by 1.5 percent in annual terms and by 0.8 per
cent in the fourth quarter of last year according to official data from
Statistics Sweden. Adjusted for calendar effects, the increase was 1.1
percent from the first quarter of last year. Growth rate was clearly
higher than what analysts had anticipated such as an increase of 0.9
percent in annual terms and by 0.1 percent from the previous quarter.
Reuters had also analysed growth of 0.2 percent in the fourth quarter.
consumption expenditures rose by 2.1 percent and general government
consumption expenditures increased 1.5 percent. The changes in
inventories amounted to a negative GDP change of 2.2 percentage points.
Gross fixed capital formation increased by 11.4 percent. Exports
increased 1.7 percent and imports decreased 0.1 percent. Production of
goods and services rose 1.9 percent.
goods decreased 0.7 percent and service sector industries rose 3.4
percent. Total employment, measured as the number of hours worked,
increased 1.0 percent while the number of employed persons increased
Sweden said “Compared to the publication in February 2012, the GDP
growth for the fourth quarter 2011, both actual and working-day
adjusted, has been revised downwards by 0.1 percentage point.”
By Scancomark.se Team / Source: Statistic Sweden
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