EnglishSweden"s economy unexpectedly entered recession again. According to official data published yesterday, Sweden"s GDP dropped 0.6% in the October-December 2009 period, compared to Q3 2009.
Analysts were expecting a 0.3% growth for the period.
Data for the third quarter was revised downwards, indicating a decline of 0.1%, over the previous estimate, which announced a growth of 0.2%.
In the last quarter of 2009, the Swedish economy (the largest in Northern Europe) dropped 1.5% over the similar period of 2008.
Sweden is affected by the slowing recovery of the Eurozone, which absorbs roughly 75% of Sweden"s exports. As a result, Sweden entered recession in 2009, for the first time since 1992. The country"s exports and imports dropped 5.7% YOY in Q4 2009. However, private consumption increased 1.8%, government spending increased 2.1%, but investments decreased 11.9%.
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