Photo: Scanpix

Sweden's economic growth almost at a standstill

Sweden's economy is not as robust as previously thought. "In principle we had stagnation during the second financial quarter," says Torbjörn Isaksson, senior analyst of Nordea bank.

The growth of Sweden's GDP (Gross Domestic Product) previously reported for the second quarter was just a mirage, according to revised estimates from Statistics Sweden. Sweden's GDP was not 0.6 percent, as indicated by the preliminary figures, but instead only 0.1 percent, compared to the same period of last year.

Sweden's GNP (Gross National Product) has similarly been revised downwards.

"This indicates that we have had a substantially weaker half-year than we believed," said Isaksson.

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