Swedish economy booming

New figures released Monday show the Swedish economy expanding a faster-than-expected 5.5 percent year-on-year in the second quarter, reinforcing expectations that Sweden’s central bank,  the Riksbank, will hike rates by at least another 75 basis points. 

Exports and growth have been surging over the past 18 months, with Swedish companies like truck maker Volvo and telecoms giant Eriksson capitalizing on strong global demand and households spending more.  One analyst calls it a ‘real rocket of a quarter’.