Sweden's economy experienced growth for the second consecutive quarter during the quarter ending in December, albeit at a more subdued pace than initially projected. According to preliminary figures released by Statistics Sweden on Wednesday, the nation's gross domestic product (GDP) saw a sequential rise of 0.2% in the fourth quarter. This follows a 0.3% increase observed in the previous quarter, while economists had anticipated the growth to remain steady at 0.3%.
Year-on-year, GDP grew by 1.1% as expected, following a 1.2% increase in the previous three-month period. On a monthly basis, the economy expanded by 0.7% in December, recovering from a 1.3% increase in November. Correspondingly, the annual GDP growth rate accelerated to 2.1%, up from 1.5% in the prior month.
Over the course of 2024, Sweden's economy reported a growth rate of 0.6% when compared to 2023.
