Economics
Swedish Economy Contracts as Price Hikes Start to Bite
- GDP shrank 0.4% in first quarter, slightly less than forecast
- The Riksbank is preparing to start raising borrowing costs
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Sweden’s economy contracted in the first three months of the year as inflation started to gnaw away at consumers’ spending power and as Russia’s war against Ukraine dented sentiment.