Economy

Sweden’s Economy Expands Less Than Forecast as Spending Slows

Published

4 months ago

July 5, 2024

(Bloomberg) — Sweden’s economic output expanded less than expected in May, as data highlights that households in the Nordic region’s largest economy may need additional monetary policy easing for consumption to pick up.

Gross domestic product increased by 0.1% from the previous month, according to an initial estimate published Friday by Statistics Sweden. That was a weaker outcome than expected by economists polled by Bloomberg, who had estimated an 0.4% expansion.

The data comes as Sweden’s central bank has started a cycle of rate cuts that it expects will take borrowing cuts one percentage point lower by the second half of next year. However, weak data for April and May suggests that the monetary policy shift hasn’t yet reinvigorated the economy in a meaningful way.

Following an expansion in the first three months of the year, economic activity has slowed down, and while production in the business sector rose by 0.6% in May, household consumption declined by 0.4% on month, according to separate releases from Statistics Sweden.

–With assistance from Joel Rinneby.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

8 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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