Financial News: Swedish Economy Contracts Further

Swedish Economy Contracts Further

04/29/2024 - 03:34:00 (RTTNews)

(RTTNews) - Sweden's economy shrank for the fourth consecutive quarter in the three months ending March, preliminary data from Statistics Sweden showed on Monday.

Gross domestic product decreased 0.1 percent sequentially in the first quarter, the same as in the fourth quarter. That was in line with expectations.

Compared to last year, the rate of change in GDP was a decline of 0.2 percent versus a 1.1 percent drop in the December quarter.

On a monthly basis, the economy contracted at a stable rate of 0.3 percent in March. It was the second successive monthly fall.

Separate official data showed that retail sales dropped 0.4 percent month-on-month in March, reversing a 0.5 percent rise in February. Sales fell for the first time in four months.

Sales of consumables contracted 0.3 percent over the month, and those of durables slid by 0.4 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Dutch Economy Shrinks 0.1% In Q1 (27 min(s), 57 sec(s) ago)
(RTTNews) - The Dutch economy contracted in the first quarter after recovering in the previous q ...Full Story»

China Keeps Lending Rate Unchanged As Expected (48 min(s), 57 sec(s) ago)
(RTTNews) - China's central bank left its medium-term lending facility rate unchanged on Wedne ...Full Story»

French Inflation Confirmed At 31-Month Low (01 hr(s), 39 min(s), 57 sec(s) ago)
(RTTNews) - France's consumer price inflation eased further to the lowest level in just over t ...Full Story»

Indonesian Trade Surplus Shrinks In April (02 hr(s), 0 min(s),57 sec(s) ago)
(RTTNews) - Indonesia's foreign trade surplus decreased in April from a year ago as imports gr ...Full Story»

European Economic News Preview: Eurozone GDP Data Due (02 hr(s), 22 min(s), 57 sec(s) ago)
(RTTNews) - Flash GDP estimate from the euro area is the top economic news due on Wednesday, headl ...Full Story»

Australia Wage Price Data Due On Wednesday (55 min(s), 03 sec(s) ago)
(RTTNews) - Australia will on Wednesday release Q1 figures for its wage price index, highlighting ...Full Story»

Powell Says Fed Needs To Be Patient As Confidence Inflation Is Slowing Dips (40 min(s), 03 sec(s) ago)
(RTTNews) - With inflation coming in hotter-than-expected during the first quarter, Federal Reserv ...Full Story»

U.S. Producer Price Growth Exceeds Estimates In April (24 min(s), 03 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by more than expected in the month of April, acc ...Full Story»