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Sweden Goes to Scandinavia’s Best to Worst on Job Losses

Sweden’s reliance on exports to Europe has turned Scandinavia’s erstwhile strongest economy into the region’s laggard as job losses undermine demand.

“It will get worse before it gets better,” said Andreas Jonsson, an economist at Nordea Bank AB in Stockholm. “We will see rising unemployment during most of 2012.” Jonsson said there is a risk the largest Nordic economy will contract this year, versus the central bank’s forecast for 0.7 percent growth.