Sweden’s GDP Unexpectedly Shrinks for Third Straight Quarter
- Fourth-quarter GDP fell 0.1% on quarter, trailing forecasts
- Data shows Sweden’s economy is less resilient to rate hikes
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Sweden’s economy fared worse in the final quarter of last year than seen previously, upending a narrative in which the biggest Nordic nation had escaped a short-lived recession.
Seasonally adjusted gross domestic product shrank by 0.1% in the three months through December, compared with the third quarter, according to figures published by Statistics Sweden on Thursday. The median estimate of economists surveyed by Bloomberg was for 0.1% growth, in line with a flash estimate published last month. The drop marks the third consecutive quarter of contraction.