Sweden’s economy grows more than expected during second quarter

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GDP indicator: Continued growth in June 2021

Statistical news from Statistics Sweden 2021-07-29 9.30

Sweden’s GDP increased by 2.5 percent in June, seasonally adjusted and compared with the previous month, as shown in the preliminary compilation of the GDP indicator. For the second quarter as a whole, GDP grew by 0.9 percent, seasonally adjusted and compared with the previous quarter.

The GDP indicator provides an early picture of the development of the gross domestic product, GDP. It is compiled on a monthly and quarterly basis with more limited and preliminary statistics than the regular quarterly national accounts. The monthly version of the indicator lies outside the official statistics and is classified as statistics under construction.

In June, GDP was 10.5 percent higher than in the corresponding month a year ago, in calendar-adjusted figures. For the second quarter as a whole, GDP grew by 10.0 percent compared with the same quarter a year ago after working day adjustments. June had the same number of working days as the corresponding month last year while the first quarter as a whole had one additional working day compared to the same quarter last year.

“The economy continued to grow during the second quarter, in line with what we have seen earlier this year. Year on year growth rates are the highest we currently have in our time series on Swedish GDP. This should be seen in the light of the severe economic effects of the pandemic on the economy in the second quarter last year. ” says Melker Loberg, economist at Statistics Sweden.


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