Sweden’s GDP Surprises With Fastest Growth in Seven Quarters
- First-quarter GDP gain of 0.7% is the fastest since 2022
- Swedbank economists see recovery taking off later this year
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Sweden’s economy exceeded forecasts in the first quarter by expanding at the fastest clip in almost two years as the Nordic country’s prospects are brightening with its central bank having started interest-rate cuts.
Helped mainly by higher inventories, gross domestic output increased by 0.7% from the final three months of last year, the most since the second quarter of 2022, according to data published by Statistics Sweden Thursday. An initial estimate had indicated a 0.1% contraction, while the outcome was higher than all projections in a Bloomberg survey of economists.