Sweden's economic growth improved in the second quarter, data from Statistics Sweden revealed Monday.
The economy expanded 2.3 percent year-on-year, after rising 1.5 percent a quarter ago. Annual growth improved for the second straight quarter and was the strongest since third quarter last year.
Likewise, gross domestic product gained by a seasonally adjusted 1.4 percent sequentially, faster than the revised 0.9 percent growth in the previous quarter.
Production of goods increased 2.2 percent and service sector industries climbed 3 percent on a working-day adjusted basis in the second quarter.
Household consumption expenditures increased 0.8 percent and general government consumption spending advanced 1.1 percent non-adjusted. The changes in inventories gave a negative effect on GDP by 0.1 percentage points.
Gross fixed capital formation grew 1.8 percent. Exports increased 1.7 percent, while imports fell 0.2 percent.
by RTT Staff Writer
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