A surge in the pace of growth in the second quarter of 2017 means Sweden’s GDP expanded by a whopping 4 per cent from a year earlier, leaving Finance Minister Magdalena Andersson rejoicing over growth some analysts called «crazy strong.»
Sweden’s gross domestic product (GDP) grew by 1.7 percent in the second quarter of 2017, fresh figures from Statistics Sweden (Statistiska centralbyrån, SCB) show. That means the country’s year-on-year growth rate landed at 4 percent, beating the economists’ forecast growth of 2.8 percent.
«This shows the strength of the Swedish economy, and we can see that both the household consumption and property investments are going strong,» Finance Minister Magdalena Andersson told TT newswire.
Finance Minister Magdalena Andersson speaking at the Almedalen politics week earlier this month. Photo: Janerik Henriksson/TT
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Swedish household consumption, meanwhile, grew by 1.1 percent compared to the previous quarter, while public consumption was down 0.2 percent. Swedish export grew by 0.7 percent, as did the import.