The Central Bank of Societe: Ints Kalnins / Reuters
The Swedish economy suddenly collapsed. In the second quarter, statistics Sweden reported on the fall of the Kingdom’s GDP at 0.1 percent of GDP, which was a surprise to economists and the Riksbank (Sweden’s Central Bank). About it reports Bloomberg.
Experts expect the Swedish economy the best results, the consensus forecast was for growth of 0.3 per cent of GDP by the end of the second quarter. The Swedish Central Bank had expected in annual terms at the end of the second quarter the economy reaches and is 1.8 percent GDP growth, however, an unexpected downturn now could affect monetary policy — the regulator decided to refuse the rate increase.
Drawdown of the economy was due to a decrease in the share of exports (0.3 per cent) and imports (0.5 percent), whereas the level of consumption in households rather increased (0.6 percent). In the first quarter of the Swedish economy on the contrary showed a growth rate much higher than it was expected, however a slowdown in the second quarter and will make adjustments in the activities of the government, which generates a budget based on that data.
Weak second quarter results also reflected in the national currency — the Krona fell by 0.23 percent against the single European currency to 10,5976 crowns per Euro. The largest Swedish banks have also been very disappointed by the statistics.
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