Economics
Swedish Economy Heats Up With Riksbank Looking to Hike Rates
- Growth in second quarter was double the estimate in a survey
- Swedish central bank poised to raise rates at end of year
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Sweden’s economic growth unexpectedly accelerated in the second quarter as consumer spending and exports picked up, lending support to the central bank’s plan to start unwinding its record stimulus later this year.
Gross domestic product grew 1.0 percent in the period, accelerating from a revised 0.8 percent in the first three months of 2018 and beating the 0.5 percent estimate in a Bloomberg survey. GDP grew 3.3 percent from a year earlier. The krona climbed 0.6 percent to 10.24 per euro as of 10:01 a.m.