Swedish economy expanded in Q3/22 despite inflationary pressure

Statistics Sweden has published preliminary data showing that the Swedish economy grew in the third quarter of 2022 despite pressure from inflation concerns and the Ukraine war.

Swedish gross domestic product (GDP) grew by 0.7% quarter-on-quarter and by 2.6% year-on-year.

Swedbank said, “We expect GDP growth to slow down in the future. As both households and businesses are cautious, this will result in a slowdown in consumption and investment. We expect Sweden’s GDP to shrink by around 1% in 2023.”

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