Sweden Economy Grows More Than Expected In Q2

Sweden's economy expanded at a faster than expected pace in the second quarter, preliminary data from the statistical office showed Thursday.

Gross domestic product grew a seasonally adjusted 0.9 percent from the first quarter, when the economy expanded 0.8 percent. Economists had expected 0.7 percent growth.

Compared to the same quarter last year, GDP rose a working-day adjusted 10 percent after remaining unchanged in the first three months of the year.

"Year on year growth rates are the highest we currently have in our time series on Swedish GDP," Statistics Sweden economist Melker Loberg said.

"This should be seen in the light of the severe economic effects of the pandemic on the economy in the second quarter last year. "

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