The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Political Economy

Surprise economic bright lights in Sweden as economic growth jump into the right zone

Friday, 01 March 2013
Sweden's GDP rose 1.4 percent in the fourth quarter, compared with the corresponding quarter of the 2011. Compared with the previous quarter, GDP was unchanged, latest official data from Statistic Sweden (SCB) show.

According to analysts forecast survey, GDP was expected to have risen by 1.0 percent compared with the year 2011 and declined by 0.8 percent compared with the previous quarter.

The Swedish Krona rose 5 to 6 öre against the dollar and the euro and the market rose after the unexpectedly strong GDP figure.

Household consumption expenditures increased by 1.9 percent and general government consumption expenditures grew by 1.1 percent non-adjusted.

The changes in inventories amounted to a negative GDP change of 1.5 percentage points. Gross fixed capital formation increased by 1.8 percent. Exports were unchanged and imports decreased by 1.1 percent. Production of goods and services increased 1.0 percent.

Production of goods dropped by 0.7 percent while service sector industries grew by 1.8 percent working-day adjusted. Total employment measured as the number of hours worked increased by 1.3 percent and the number of employed persons increased 0.5 percent.

Interest rate on the two-year government bond rose to 1.08 percent, from Thursday's 1.04 percent, while the ten-year rate rose to 1.92 percent from 1.89 percent.

Employment, measured in number of hours worked rose 1.3 percent in the fourth quarter. The number of employed rose 0.5 percent. In business, the number of hours worked by 0.7 percent. Labour productivity in the business sector increased 0.3 percent.
By Scancomark.com Team

What do you think about this article? Suggest correction or join our network!