Swedish Economy Stagnates as Rate Hikes Weigh on Output
- Flash estimate shows GDP unchanged from previous quarter
- The economy is slowing as the Riksbank has tightened policy
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Sweden’s economy was stagnant last quarter, as rising borrowing costs and growing unemployment hurt spending in the Nordic region’s largest country.
Gross domestic product, adjusted for seasonal swings, was unchanged in the third quarter from the previous three-month period, according to preliminary data published by Statistics Sweden on Monday. The development was weaker than expected by economists, who had penciled in growth of 0.3%, following a slump in the second quarter.