Political
Economy
The Confederation of Swedish Enterprise (Svenskt Näringsliv) sees a downturn in the Swedish economy, in its new forecast for the Swedish economic development in the coming months.
Many countries in Europe have dedicated to hard cost savings while many export enterprises in Sweden are faced with the power of the Swedish, which has strengthened considerably.
Sweden's GDP is expected to grow by 0.9 percent this year and 1.2 percent in 2013. In previous forecast in June, it was predicted by the Confederation of Swedish Enterprise that the Swedish GDP will grow at 0.2 percent in 2012 and 1.7 percent in 2013. Repo rate is expected to be at 1.00 percent by the end of 2012 and 1.00 percent at the end of 2013. The Swedish currency, the Krona is expected to trade at Skr6.60 against the dollar by the end of 2012 and Skr 6.60 at the end of 2013. The corresponding forecasts against the euro is Skr8.50 and Skr8.40.
In that light, unemployment will grow from 7.7 percent this year to 8.0 percent next year and drops to 7.9 percent in 2014
"The coming days will be tough for Sweden. Reduced demand from our export markets and a stronger Krona makes exporting companies squeezed from two directions simultaneously. Positive stimulus in the form of reduced interest rates and corporate tax cut is encouraged. Overall, however, there will be a weak demand in the economy for a significant period ahead," says Stefan Fölster, chief economist at the Confederation of Swedish Enterprise (Svenskt Näringsliv).
By Scancomark.com. Team
Confederation of Swedish Enterprise looks bleak on the Swedish economy
Monday, 24 September 2012The Confederation of Swedish Enterprise (Svenskt Näringsliv) sees a downturn in the Swedish economy, in its new forecast for the Swedish economic development in the coming months.
Many countries in Europe have dedicated to hard cost savings while many export enterprises in Sweden are faced with the power of the Swedish, which has strengthened considerably.
Sweden's GDP is expected to grow by 0.9 percent this year and 1.2 percent in 2013. In previous forecast in June, it was predicted by the Confederation of Swedish Enterprise that the Swedish GDP will grow at 0.2 percent in 2012 and 1.7 percent in 2013. Repo rate is expected to be at 1.00 percent by the end of 2012 and 1.00 percent at the end of 2013. The Swedish currency, the Krona is expected to trade at Skr6.60 against the dollar by the end of 2012 and Skr 6.60 at the end of 2013. The corresponding forecasts against the euro is Skr8.50 and Skr8.40.
In that light, unemployment will grow from 7.7 percent this year to 8.0 percent next year and drops to 7.9 percent in 2014
"The coming days will be tough for Sweden. Reduced demand from our export markets and a stronger Krona makes exporting companies squeezed from two directions simultaneously. Positive stimulus in the form of reduced interest rates and corporate tax cut is encouraged. Overall, however, there will be a weak demand in the economy for a significant period ahead," says Stefan Fölster, chief economist at the Confederation of Swedish Enterprise (Svenskt Näringsliv).
By Scancomark.com. Team
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