Swedish Economy Posts Fourth Straight Quarter of Contraction
- Gross domestic product shrank 0.1% in the first quarter
- Data comes as the Riksbank weighs a rate cut in May or June
This article is for subscribers only.
Sweden’s economy posted a fourth consecutive quarter of contraction as interest-rate cuts that could spur activity in the largest Nordic nation are yet to materialize.
Seasonally adjusted gross domestic product declined by 0.1% in the three months through March compared with the fourth quarter of 2023, according to an preliminary estimate published by Statistics Sweden on Monday. The median forecast of economists surveyed by Bloomberg was for 0.2% growth, while the central bank had projected no change in its March monetary policy report.