New figures from ‘Statistics Sweden’ (SCB) show that the Swedish economy unexpectedly contracted 0.6% in the fourth quarter of 2022, as the country battles decades-high inflation of 12.3%, while the Swedish krona is at its lowest level ever against the euro. Analysts had originally forecast a (quarter-on-quarter) growth of 0.2%.
Statistics Sweden also lowered its growth estimate for 2023 from 2.7% to 2.4%: it expects the economy to go into a recession this year, and grow slightly in 2024. Read more on SCB.se
