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Sweden Economic Forecast

Sweden Economic Outlook

March 3, 2020

The economy slowed in the fourth quarter of last year, as fixed investment tumbled amid lower business confidence and despite ultra-low interest rates. Moreover, government consumption growth stalled in Q4, after accelerating in Q3, and exports fell at a faster pace than imports, leading the external sector to drag on the headline reading. More positively, private consumption growth firmed up slightly, despite the unemployment rate rising to an over three-and-a-half-year high in December. Turning to this year, the outlook looks mixed. On the one hand, economic sentiment rose to a nine-month high in February, primarily due to greater consumer confidence, and the jobless rate was unchanged in January, pausing a steady run of increases. On the other hand, the recent spread of coronavirus within Sweden and abroad could dampen economic activity towards the end of this quarter and further into the year.

Sweden Economic Growth

Growth should remain subdued this year due to sluggish exports, a sagging construction sector and an expected increase in the unemployment rate. However, low interest rates and fiscal stimulus should support growth. A key risk to the outlook is the development of the coronavirus outbreak. FocusEconomics panelists see GDP rising 1.1% in 2020, which is unchanged from last month’s forecast, and 1.6% in 2021.

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Sweden Facts

Value Change Date
Bond Yield0.15-4.79 %Jan 01
Exchange Rate9.36-0.20 %Jan 01

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Sweden Economic News

  • Sweden: Industrial production rebounds in January

    March 5, 2020

    Industrial production excluding energy increased 1.5% in calendar- and seasonally-adjusted terms in January, contrasting the revised 1.3% decrease in December (previously reported: +1.6% month-on-month).

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  • Sweden: Economic sentiment increases to a nine-month high in February

    February 27, 2020

    bet360备用网址The economic tendency indicator increased to 99.1 points in February from the revised 97.3 points in January (previously reported: 97.1 points), representing a nine-month high.

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  • Sweden: Inflation slows significantly in January

    February 19, 2020

    Consumer prices with a fixed interest rate (CPIF)—which is closely followed by the Central Bank—decreased 1.5% in January compared to the previous month, contrasting the 0.4% increase in December and largely due to lower prices for clothing and shoes, electricity and travel services. CPIF inflation slowed to 1.2% in January from 1.7% in December, marking an over two-year low and only just remaining within the Central Bank’s 1.0%–3.0% tolerance band.

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  • Sweden: Riksbank leaves the repo rate unchanged in February

    February 12, 2020

    bet360备用网址At its 12 February monetary policy meeting, the Central Bank left the repo rate unchanged at 0.00%, where it has been since it was raised from minus 0.25% on 19 December 2019.

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  • Sweden: Industrial production tumbles in December

    February 5, 2020

    Industrial production excluding energy decreased 1.6% in calendar- and seasonally-adjusted terms in December, contrasting the revised 1.7% increase in November (previously reported: +2.1% month-on-month).

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