The Swedish economy is growing, new figures from Statistics Norway show.
Sweden’s GDP increased by 0.7 percent during the first quarter – an unexpectedly high figure.
– It is a clear sign that Sweden is starting to turn around, says Frida Bratt, savings economist at Nordnet.
During the first quarter of the year, Sweden’s gross domestic product (GDP) increased by 0.7 percent compared to the previous quarter, according to new figures from Statistics Norway.
– It was a bigger increase than expected. It is very positive. This breaks the streak of decline and falling GDP, says Frida Bratt.
An increase of 0.1 percent was expected. Frida Bratt believes that the unexpectedly large increase may indicate that the Swedish economy has bottomed out in the recession.
– The light in the tunnel can be seen, says Bratt.
Exports are increasing
Inventory investments, including machinery, are believed to be behind the unexpected increase.
– That says something about what is happening in the Swedish economy. It is invested, it is bet, it is switched up. It is precisely these types of investments that contribute, says Frida Bratt.
Exports are also increasing, says the savings economist. On the other hand, household consumption continues to fall. During the first quarter, it decreased by 0.3 percent.