Swedish economy expands below Riksbank’s projection in Q4 2017

Swedish economy expanded slightly below Riksbank’s projection. The nation’s GDP grew 0.9 percent on a sequential basis in the fourth quarter of 2017. On a year-on-year basis, it rose 3.3 percent. The underlying components came in as expected, although fixed investments surprised on the downside.

Short-term indicators continue to be rather positive, which imply a continued solid economic momentum at the beginning of 2018. However, in line with most forecasters, including the central bank, growth is projected to moderate in the course of this year, noted Nordea Bank in a research report.

There are already some concerning signs in some sectors. The retail sales data came in at a meager 1.2 percent year-on-year, as compared with consensus expectations of 2.9 percent. The trend has been rather weak in recent months which might be related to the wobbling housing market, added Nordea Bank.

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