Swedish Economy Recovers In Q3

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Sweden’s economy expanded in the third quarter, after a sharp contraction in the previous three months, preliminary figures from Statistics Sweden showed on Thursday.

Gross domestic product grew 4.3 percent from the previous quarter, when the output plummeted 8.6 percent, which was revised from 8.3 percent, as economic activity was hurt severely by the coronavirus pandemic.

On a year-on-year basis, GDP decreased 3.5 percent in the third quarter after an 8.2 percent fall in the previous three months.

The upturn in the third quarter compared with the previous quarter largely came from rising exports of goods, the statistical office said.

“This upswing means that the Swedish economy has recovered roughly half of the sharp contraction in the second quarter,” Statistics Sweden said.

The material has been provided by InstaForex Company – www.instaforex.com

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