Sweden’s economy showed signs of slowing as the country’s GDP growth decelerated to 0.4% in the third quarter, according to data from Statistics Sweden. The economy experienced a contraction in September, which contributed to the reduced growth rate over the quarter.
Economist Neda Shahbazi noted that the modest quarterly expansion was bolstered by robust economic performance in August, which helped offset some of the downturn seen in September. However, the latest figures suggest a weakening economic momentum as the quarter drew to a close.
Despite this recent dip, Sweden’s GDP was still 2.8% higher in the third quarter compared to the same period last year, indicating that the economy remains larger than it was a year ago. This year-on-year growth provides a more positive perspective on Sweden’s economic situation, even amidst concerns over the latest monthly decline.