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Financial News: Sweden GDP Growth Slows As Expected In Q3

Sweden GDP Growth Slows As Expected In Q3

11/29/2017 - 04:48:00 (RTTNews)

(RTTNews) - Sweden's economic growth moderated as expected in the three months ended September, figures from Statistics Sweden showed Wednesday.

Gross domestic product advanced a seasonally adjusted 0.8 percent sequentially in the third quarter, slower than the 1.2 percent rise in the previous quarter, which was revised down from 1.3 percent.

During the first quarter of this year, the rate of expansion was 0.5 percent.

On the expenditure side, household consumption grew 0.4 percent and gross fixed capital formation climbed by 3.9 percent.

Both exports and imports increased by 0.7 percent and 1.6 percent, respectively.

On a yearly basis, GDP growth improved to 2.9 percent in the September quarter from 2.7 percent in the June quarter. However, that was below the 3.5 percent gain economists had forecast.

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