Growth Upgrade for Sweden
The National Institute of Economic Research predicted on Wednesday that Swedish growth will be 3.8 percent this year, upping its forecast from 3.5 percent.
The upgrade for 2004 is the third time it has raised its outlook this year.
The institute said exports have been stronger than expected and added that in ”2005 and 2006 investment and household consumption will grow quickly”.
The forecasts were made in a report on wages and economic conditions in Sweden. The institute forecast growth for next year is 3.0 percent and 2.8 percent in 2006.