Sweden’s GDP in the 2Q12 period rose 1.4 percent vs a revised 0.9 percent growth in the 1Q12 period on higher domestic spending by consumers. Expectations came in at 0.2 percent for the q/q estimate and 0.6 percent on a y/y basis.
On a y/y basis, it expanded 2.3 percent vs prv 1.5 percent.
The strong domestic economy could be offset by the ongoing crisis in the EuroZone. The data could point to the central bank keeping interest rates unchanged in response to the result, rather than lowering rates.
The govt. raised its budget forecast to a balanced one and expects a 0.4 percent surplus in FY13. (Bloomberg)
Categories: General News