Sweden’s economy unexpectedly contracted in the fourth quarter as weaker purchasing power erodes consumer spending in the biggest Nordic economy.
Gross domestic product shrank 0.6% in the three months through December from the previous quarter, on a seasonally adjusted basis, according to preliminary data from Statistics Sweden. Economists surveyed by Bloomberg had on average expected an expansion of 0.2%, while the Riksbank had forecast a contraction of 0.8% for the quarter.
