Swedish Krona Weakens After Fourth Quarter GDP Misses Estimates

Feb. 29 (Bloomberg) -- Sweden’s krona slid against the euro and was weaker against all of its 16 major peers after a report showed the nation’s economy contracted more than analysts estimated in the fourth quarter.

The krona slipped 0.2 percent to 8.8321 per euro at 8:35 a.m. London time. It was 0.1 percent weaker versus the dollar at 6.5587.

Gross domestic product fell a seasonally adjusted 1.1 percent in the three months through December, Stockholm-based Statistics Sweden said today. That compared with a median estimate for a 0.7 percent contraction in a Bloomberg survey of 15 economists.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net