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Financial News: Sweden Q2 GDP Growth Improves Unexpectedly

Sweden Q2 GDP Growth Improves Unexpectedly

07/30/2018 - 06:19:00 (RTTNews)

(RTTNews) - Sweden's economic growth improved unexpectedly in the three months ended June, after remaining stable in the previous quarter, figures from Statistics Sweden showed Monday.

Gross domestic product advanced a seasonally adjusted 1.0 percent sequentially in the second quarter, faster than the 0.8 percent rise in the first quarter, which was revised up from 0.7 percent.

Meanwhile, economists had expected the growth to slow to 0.5 percent.

On the expenditure side, household consumption expenditure grew 0.9 percent over the quarter, while gross fixed capital formation decreased by 0.2 percent.

Exports increased 0.5 percent, while imports dropped by 0.2 percent.

On a yearly basis, economic growth held steady at 3.3 percent in the June quarter. That was above the expected rise of 2.6 percent.

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