Sweden Q2 GDP Growth Improves Less Than Estimated

Sweden Q2 GDP Growth Improves Less Than Estimated

Sweden’s economic growth improved less than initially estimated in the three months ended June, figures from Statistics Sweden showed Wednesday.

Gross domestic product advanced a seasonally adjusted 1.3 percent sequentially in the second quarter instead of a 1.7 percent rise reported earlier. This was followed by a 0.6 percent stable rate of increase in the first quarter.

The latest rate of growth was the strongest since April 2015, when the economy had grown the same 1.3 percent.

On the expenditure side, household consumption grew 0.7 percent over the quarter and gross fixed capital formation rose by 2.5 percent.

Both exports and imports grew by 2.3 percent and 1.5 percent, respectively.

On a yearly basis, GDP growth accelerated to 3.1 percent in the June quarter from 2.2 percent in the previous quarter. The second quarter figure was revised down from 4.0 percent.