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“The economic recession was dramatic this spring. But the Swedish economy is now growing on a broad front and already next summer, the level of GDP is back where it was before the crisis, “Annika Winsth Nordea’s chief economist says in a press release.
The image that the worst crisis situation has passed has intensified over the summer, Nordea writes in the economic report. The conditions for a continued recovery are good, although a certain risk of reversals cannot be ruled out. Thus, the forecasts are also revised upwards. Growth in Sweden may also be higher than expected in the report, especially as demand from neighboring countries is strong.
“Unemployment is peaking now and warnings stabilized at a normal level during the summer. At the same time the number of new vacancies is changing and parts of the large layoffs that were established this spring do not appear to result in layoffs, ”says Annika Winsth.
House prices are expected to rise 6 percent this year, which, together with an improving job market, gives households confidence.
“So there is no need for any larger, general stimulus package to jump-start the economy. On the other hand, specific support for sectors particularly affected and measures for groups with a weak presence in the labor market are justified. Sensible structural measures, and not least in education, should always be in focus, says Annika Winsth.
The report also notes that it looks brighter globally, which means that world trade will start again, which is also positive for Swedish development.
| Sweden, key figures | 2018 | 2019 | 2020P | 2021P | 2022P | |
| BNP,% | 2.0 | 1.3 | -3.2 | 4.1 | 2.0 | |
| BNP, calendar calendar,% | 2.1 | 1.3 | -3.5 | 4.0 | 2.0 | |
| Unemployment,% | 6.3 | 6.8 | 8.5 | 8.5 | 7.4 | |
| Inflation, CPIF, annual average,% | 2.1 | 1.7 | 0.5 | 1.1 | 1.0 | |
| Net general government financing,% of GDP | 0.8 | 0.4 | -4.3 | -3.3 | -1.5 |
