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Sweden

Key Indicators

BOP
Current Account, Balance, SEK - Sweden
45674516000, 60866564000, 51258220000, 50313474000, 53343110000 53,343,110,000
Monetary Policy Rate
Repo Rate, Percent - Sweden
1.08, 1.25, 1.35, 1.5, 1.54 1.54
National Accounts
GDP, Expenditure Approach, GDP at market prices, Constant prices (2000&2009), SEK - Sweden
-1.2, 2.68, 5.16, 6.93, 7.75 7.75
Harmonized Index of Consumer Prices (HICP)
2005=100 - Sweden
2.1, 1.38, 1.24, 1.38, 1.8 1.8
SWE Unemployment rate
survey-based (all persons) sa Stock or Quantum, SA, % - Sweden
9.3, 8.8, 7.7, 8.6, 8.1 8.1
data by Factset

Sweden Outlook: All Good Things Come to an End

Sweden’s performance has been spectacular, but solid fundamentals are not enough to support growth in the next two years given the economy’s tight trade and financial linkages to the eurozone (EZ). Uncertainty surrounding global growth and Europe’s debt crisis is exacerbating domestic weaknesses, and we expect falling house prices and tight credit to subdue domestic demand. Both monetary and fiscal policy will be supportive of growth, helping Sweden to perform better than the EZ. Nevertheless, we forecast a contraction in 2013.

Read the latest Sweden Outlook

Economic Research

Europe Weekly

EZ Pitfalls in 2012; Italian GDP; New Spanish Government; Swedish Monetary Policy; Hungarian, Polish Banks; EZ Calendar

By Katharina Jungen, Megan Greene, Mark Willis, Mikko Forss, Jelena Vukotic and Danya Churanek Dec 23, 2011

Central Bank Watch

Riksbank: December Update

By Mikko Forss Dec 15, 2011

Global Economic Outlook

Sweden Outlook: All Good Things Come to an End

By Mikko Forss Dec 2, 2011

Europe Weekly

German, Global Central Bank, ECB Moves to Solve EZ Crisis; EZ Yield Curves; Hungarian Monetary Policy; Scandinavian Growth; EZ Calendar

By Elisa Parisi-Capone, Megan Greene, Katharina Jungen, Mikko Forss, Jelena Vukotic, Mark Willis and William Oman Dec 2, 2011

Central Bank Watch

Riksbank: November Update

By Mikko Forss Nov 17, 2011

Global Economic Outlook

Sweden Outlook Update: Hit by EZ Woes and Falling Asset Prices

By Mikko Forss Nov 2, 2011

Europe Weekly

EZ Summit Questions; ECB’s Next Rate Move; German Obstacles; Swedish Rate Cuts; Resilient Polish Consumption; Italian Politics; EZ Calendar

By Katharina Jungen, Elisa Parisi-Capone, Megan Greene, Mikko Forss, Jelena Vukotic and Mark Willis Oct 28, 2011

Europe Weekly

PMIs Painting a Gloomier Picture by the Month

By Mikko Forss, Megan Greene, Rachel Ziemba, Katharina Jungen, Parul Walia, Maya Senussi, Jelena Vukotic, Tetiana Sears and William Oman Oct 7, 2011

Central Bank Watch

Pulling Out Policy Rabbits, Putting Policy Ducks in a Row

By Michael Manetta and the RGE Economic Research Team Oct 4, 2011

Europe Weekly

UK QE2; Hungarian Financial Stability Concerns; Swedish Policy Bullets; Swiss Currency Strength; Irish Growth Outlook

By Parul Walia, Jelena Vukotic, Mikko Forss, William Oman and Sehaj Malik Sep 23, 2011

Global Economic Outlook

Sweden Outlook Update: Internal and External Headwinds

By Mikko Forss Sep 20, 2011

Central Bank Watch

Summary Table: RGE Policy Rate Forecasts and Market Interbank Rate Expectations

By Michael Manetta and the RGE Economic Research Team Aug 19, 2011

Central Bank Watch

Riksbank: August Update

By Mikko Forss Aug 19, 2011

Europe Weekly

Europe-Wide Growth Slowdown

By Elisa Parisi-Capone, Katharina Jungen, Mikko Forss, Jelena Vukotic, Parul Walia, William Oman, Sehaj Malik, Filipe Albuquerque Aug 19, 2011

Global Economic Outlook

Sweden Outlook Update: Open Economy Takes a Hit

By Mikko Forss Aug 18, 2011

Europe Weekly

PMIs Paint Gloomy Picture, With Few Exceptions

By William Oman, Elisa Parisi-Capone, Parul Walia, Mikko Forss, David Rogovic and Jelena Vukotic Aug 5, 2011

Europe Weekly

UK Monetary Policy; Eurozone Inflation; Swedish Households; Eastern European Banks; Turkish Consumer Confidence; Polish Manufacturing

By Parul Walia, William Oman, Mikko Forss, Jelena Vukotic and David Rogovic Jul 22, 2011

Global Economic Outlook

Sweden Outlook Update: Less Stellar Growth Ahead

By Mikko Forss Jun 17, 2011

Europe Weekly

Regional Growth Dynamics—Eurozone, UK, Nordics, Turkey

By Elisa Parisi-Capone, Parul Walia, Mikko Forss and David Rogovic Jun 10, 2011

Economic Research

Central Bank Watch: The Shifting Tides of Global Monetary Policy

By James Mason and the RGE Economic Research Team Jun 8, 2011

Europe Weekly

Eurozone Core Comes Up Trumps in Q1; UK, EZ Periphery Moving at Half Speed

By Elisa Parisi-Capone, Katharina Jungen and James Mason May 13, 2011

Europe Weekly

Polish Fiscal Plan; Swedish Government Debt; Spanish Politics

By David Rogovic, James Mason, Mikko Forss, Mark Willis and Jelena Vukotic Apr 8, 2011

Economic Research

Sweden: Government Debt Trending Down

By Mikko Forss Apr 8, 2011

Economic Research

Is the Global Nuclear Renaissance Over?

By Gary Clark Mar 31, 2011

Global Economic Outlook

Sweden Outlook: Back to Trend Growth

By Mikko Forss Mar 18, 2011

Economic Research

Scandinavia: Core Inflation Under Control

By Mikko Forss Mar 11, 2011

Europe Weekly

Widening French Deficit; Czech Monetary Policy; Scandinavian Inflation

By Mark Willis, Jelena Vukotic, Parul Walia, Mikko Forss and James Mason Mar 11, 2011

Economic Research

Nordics: Why Is Sweden Outperforming Finland?

By Mikko Forss Mar 4, 2011

Europe Weekly

ECB Surprise; UK Manufacturing; Hungary's Reform Package

By RGE's Europe Analyst Team Mar 4, 2011

Europe Weekly

ECB Rate Path; Turkish Imbalances; UK Labor Market

By Elisa Parisi-Capone, David Rogovic, Parul Walia, Mikko Forss and Mark Willis Feb 25, 2011

Europe Weekly

Irish Fiscal Plan in Doubt; Fighting Nordic Bubbles; Belgian Deadlock

By James Mason, Parul Walia, Mikko Forss, Elisa Parisi-Capone, Jelena Vukotic, Mark Willis and Pamela Reyes Feb 4, 2011

Economic Research

Nordics: Fighting the Bubbles

By Mikko Forss Feb 4, 2011

Europe Weekly

Greek Debt Restructuring; Turkish Monetary Policy; German Elections; Swedish Banks

By Elisa Parisi-Capone, David Rogovic, Mark Willis and Mikko Forss Jan 21, 2011

Economic Research

Swedish Banks: Fewer Risks in the Baltic Region

By Mikko Forss Jan 21, 2011

Europe Weekly

Irish Bank Debt; EZ and CE Growth; Nordic Exports

By James Mason, David Rogovic, Mikko Forss and Elisa Parisi-Capone Jan 7, 2011

Economic Research

Nordics: 2011 Will Bring Slower Growth in Export Markets

By Mikko Forss Jan 7, 2011

Global Economic Outlook

Global Overview: 2011 Outlook

By Christian Menegatti, Nouriel Roubini and the RGE Macroeconomics Team Dec 7, 2010

Global Economic Outlook

Nordics: 2011 Outlook

By Mikko Forss Dec 7, 2010

Global Economic Outlook

Sweden: 2011 Outlook

By Mikko Forss Dec 7, 2010

Global Economic Outlook

Macro Forecasts: 2011 Outlook

By the RGE Macroeconomics Team Dec 7, 2010

Europe Weekly

EZ Current Accounts; Sweden's Hung Parliament Risk; Basel III Impact on German Banks

By Elisa Parisi-Capone, Mikko Forss, Mary Stokes, Katharina Jungen, Parul Walia and David Rogovic Sep 17, 2010

Global Economic Outlook

Global Overview: September 2010 Outlook Update

By Nouriel Roubini, Christian Menegatti and the RGE Macroeconomic Team Sep 10, 2010

Global Economic Outlook

Nordics: September 2010 Outlook Update

By Mikko Forss Sep 10, 2010

Global Economic Outlook

Sweden: September 2010 Outlook Update

By Mikko Forss Sep 10, 2010

Europe Weekly

Q2 GDP in the Eurozone and UK; High-Flying Swiss Franc; Turkey's Referendum

By Elisa Parisi-Capone, Mikko Forss, Parul Walia, Mary Stokes and Katharina Jungen Sep 3, 2010

Europe Weekly

Periphery Bank Borrowings; German H2 Preview; Romania's IMF Loan Risk

By Elisa Parisi-Capone, Katharina Jungen, Mikko Forss, Jelena Vukotic and Parul Walia Aug 27, 2010

Economic Research

Europe Weekly Spotlight: UK and German Inflation; Turkish Monetary Policy; Nordic PMIs

By RGE’s Europe Analyst Team Aug 20, 2010

Economic Research

Europe Weekly Spotlight: Eurozone Q2 Growth; Is Germany Rebalancing?; Polls Near in Latvia and Sweden

By Elisa Parisi-Capone, Katharina Jungen, Mary Stokes, Parul Walia, David Rogovic and Eric Persson Aug 13, 2010

Economic Research

Europe Weekly Spotlight: EZ Corporate Credit Conditions; Inflation Risks in Russia

By Elisa Parisi-Capone, Katharina Jungen, Rachel Ziemba, David Rogovic, Mikko Forss and Jelena Vukotic Jul 30, 2010

Global Economic Outlook

Nordics: Q3 2010 Outlook

By Mikko Forss Jul 10, 2010

Global Economic Outlook

Sweden: Q3 2010 Outlook

By Mikko Forss Jul 10, 2010

Economic Research

Europe Weekly Spotlight: Multi-Speed Eurozone Recovery; Strong UK Gilts; Confident Nordics

By Elisa Parisi-Capone, Parul Walia, Eric Persson, Mary Stokes, Jelena Vukotic and David Rogovic Jul 9, 2010

Economic Research

Europe Weekly Spotlight: Growth in Turkey, Austerity Beyond (even France)

By Elisa Parisi-Capone, Mary Stokes, Katharina Jungen, Mikko Forss, Parul Walia and David Rogovic Jun 25, 2010

Global Economic Outlook

Sweden: Q2 2010 Outlook

By Mikko Forss Apr 12, 2010

Economic Research

Scandinavian Currencies: New Safe Havens?

By Mary Stokes and Mikko Forss Mar 12, 2010

Global Economic Outlook

Sweden: Q1 2010 Outlook

By Mikko Forss Jan 30, 2010

Economic Research

Carry Trade Hotspots: A Currency by Currency Forecast for 2010

By Mikka Pineda, Mary Stokes, Bertrand Delgado, Mikko Forss, Kavitha Cherian, Arpitha Bykere and Christian Menegatti Jan 4, 2010

Economic Research

Come to Mother: An RGE Strategy for the 2010 Carry Trade

By Arnab Das, Natalia Gurushina, Jennifer Kapila, Elisa Parisi-Capone Jan 4, 2010

Economic Research

Sweden Economic Outlook, Q4 2009

By Mary Stokes Oct 7, 2009

Economic Research

Sweden Economic Outlook, Q3 2009

By Mary Stokes Jul 24, 2009

Economic Research

Swedish Banks: Could They Get Burned by Heavy Baltic Exposure?

By Mary Stokes and David Rogovic Jun 24, 2009

EconoMonitors

Finance & Markets Channel

Once Again, It's Sweden (Sweden!) Showing the Way

Barry Ritholtz Nov 10, 2011

Ed Dolan's Econ Blog

How Smart Fiscal Rules Keep Sweden's Budget in Balance

Ed Dolan Jul 31, 2011

Finance & Markets Channel

Go Swedish, Part 47

Barry Ritholtz Jun 28, 2011

Finance & Markets Channel

The Swedish Banking Crisis Response or the Bailout Hustle?

Edward Harrison Feb 22, 2010

Global Macro Channel

Output, Productivity, Employment, Household Debt, Consumption, and Wealth

Mark Thoma Sep 23, 2009

Global Macro Channel

Experimenting with Negative Interest Rates

James Picerno Aug 31, 2009

Daily Digest

Analysis

No cost to Sweden to join the EU fiscal pact

Swedbank  Cecilia Hermansson Feb 02, 2012

Analysis

Sweden: Stronger than expected PMI increase

Handelsbanken  Anders Brunstedt Feb 01, 2012

News

Swedish Manufacturing Output Unexpectedly Expanded in January

Bloomberg  Johan Carlstrom Feb 01, 2012

Analysis

Norway: Two-tier economy, more optimistic consumers; Sweden: Positive signs from household sector

DNB Nor  Kyrre Aamdal and Kjersti Haugland Jan 30, 2012

Analysis

Sweden: No further weakening in weak sales trend

Handelsbanken  Anders Brunstedt Jan 27, 2012

Analysis

Swedbank Economic Outlook - Sweden & Baltics

Swedbank  Jan 24, 2012

Analysis

Weaker Swedish sentiment but less gloomy households

Handelsbanken  Anders Brunstedt Jan 26, 2012

Analysis

Norway: Stricter rules for mortgage approvals; Sweden: Fiscal compact or not?

DNB Nor  Kyrre Aamdal and Kjersti Haugland Jan 23, 2012

News

Nordic Banks Lose Edge as Crisis Risks Recede

Bloomberg  Adam Ewing Jan 24, 2012

News

Corporate Debt to Surge in Sweden as Bank Credit Dries Up

Bloomberg  Meera Bhatia and Adam Ewing Jan 20, 2012

Analysis

Sweden: Will the Riksbank cut or not in February?

Danske Bank  Michael Grahn Jan 20, 2012

Analysis

Norway: Weaker global growth weighs on exporters; Sweden: Manufacturing orders plunge

DNB Nor  Kyrre Aamdal and Kjersti Haugland Jan 17, 2012

Analysis

Has SEK decoupled from ordinary drivers?

SEB  Carl Hammer et al Jan 17, 2012

News

Investors Ignore Nordic House Bubble Risk

Bloomberg  Johan Carlstrom and Josiane Kremer Jan 17, 2012

Analysis

Sweden: Falling GDP in Q4

SEB  Jan 16, 2012

Analysis

Sweden: Higher-than-forecast December CPI

Handelsbanken  Anders Brunstedt Jan 12, 2012

Analysis

Norway: Oil sector offsets weaker demand; Sweden: December rate cut, and more to come

DNB Nor  Kyrre Aamdal and Kjersti Haugland Jan 10, 2012

Analysis

Sweden: More weakening for industrial production

Handelsbanken  Anders Brunstedt Jan 10, 2012

Analysis

Nordic Outlook-January 2012

Danske Bank  Steen Bocian Jan 09, 2012

News

Sweden Reports Surplus for 2011 on Tax Growth, Asset Sales

Bloomberg  Johan Carlstrom Jan 10, 2012

Analysis

Sweden: Households still expect house prices to fall

SEB  Sanna Eckardt Jan 09, 2012

Analysis

Sweden: Stronger than expected December PMI

Handelsbanken  Anders Brunstedt Jan 02, 2012

Analysis

Riksbank Minutes from a micro perspective

SEB  Sanna Eckardt Jan 03, 2012

News

Sweden Plans 20-Year Bond, Puts Inflation-Linked Bond on Hold

Bloomberg  Johan Carlstrom Dec 21, 2011

Analysis

Sweden: Unemployment Rising and Becoming Entrenched

National Institute of Economic Research (Sweden)  Dec 21, 2011

Analysis

Economic Tendency Indicator shows increasingly weak growth

National Institute of Economic Research (Sweden)  Dec 21, 2011

Analysis

Sweden: Repo rate cut to 1.75 per cent

Riksbank (Central Bank of Sweden)  Dec 20, 2011

Analysis

Riksbank - a slow starter

Danske Bank  Michael Boström Dec 20, 2011

Analysis

Swedish Employment Falls, Giving Riksbank Scope to Cut Rates

Bloomberg  Johan Carlstrom Dec 15, 2011

Analysis

Sweden: Inflation decline, as expected

Handelsbanken  Anders Brunstedt Dec 13, 2011

Analysis

Sweden: Growth still strong but uncertainty remains

Statistics Sweden  Dec 13, 2011

Analysis

Sweden: SEB’s housing price indicator falls back

SEB  Sanna Eckardt Dec 12, 2011

News

SEB, Swedbank Raised by S&P as Sweden Tightens Standards

Bloomberg  Adam Ewing and Johan Carlstrom Dec 02, 2011

News

Events test haven status of krone and krona

Financial Times  Alice Ross Dec 01, 2011

Analysis

Sweden: Lower-than-expected November PMI

Handelsbanken  Anders Brunstedt Dec 01, 2011

Analysis

Sweden: Unexpectedly high GDP growth in Q3

Handelsbanken  Anders Brunstedt Nov 29, 2011

Analysis

Sweden: The banks have good resilience

Riksbank (Central Bank of Sweden)  Nov 29, 2011

Research

Economic Commentary: A systemic risk indicator for the Swedish banking system

Riksbank (Central Bank of Sweden)  Kristian Jönsson Nov 24, 2011

Analysis

Expected weakness in October retail sales

Handelsbanken  Anders Brunstedt Nov 28, 2011

News

Sweden to impose Basel III early

Financial Times  Claire Jones Nov 27, 2011

News

Sweden Revamps Central Bank Tool Kit on Crisis

Bloomberg  Johan Carlstrom Nov 25, 2011

Analysis

Sweden: Economic Tendency Indicator fell marginally in November

National Institute of Economic Research (Sweden)  Nov 24, 2011

News

Riksbank Policy Should Target Prices, Not Banks, Svensson Says

Bloomberg  Johan Carlstrom and Kim McLaughlin Nov 17, 2011

News

Investors head north for shelter of Nordic bonds

Financial Times  Jamie Chisholm Nov 16, 2011

News

Sweden Taps EU’s Lowest Yields to Lock In 30-Year Funding

Bloomberg  Johan Carlstrom Nov 16, 2011

Analysis

Weaker SEK running into PPM flows

SEB  Carl Hammer et al Nov 15, 2011

Analysis

Norway: Inflation bottoming out; Sweden: In a monetary policy state of suspension

DNB Nor  Kyrre Aamdal and Kjersti Haugland Nov 15, 2011

Analysis

Sweden: Broad based downside surprise in October CPI

SEB  Olle Holmgren Nov 10, 2011

Analysis

Riksbank October Meeting Minutes

Riksbank (Central Bank of Sweden)  Nov 09, 2011

News

Scandinavian Banks Show Local Beats Global

Bloomberg  Adam Ewing and Josiane Kremer Nov 08, 2011

Analysis

Sweden: Households still pessimistic about house prices

SEB  Sanna Eckardt Nov 07, 2011

Analysis

Norway: Prudent consumers; Sweden: Riksbank on hold "for some time"

DNB Nor  Kyrre Aamdal and Kjersti Haugland Oct 31, 2011

Analysis

Sweden: Unexpected pick-up in October PMI

Handelsbanken  Anders Brunstedt Nov 01, 2011

Analysis

NOK/SEK to stay range-bound

SEB  Anders Söderberg and Carl Hammer Nov 01, 2011

Analysis

The Riksbank lowers repo path; repo rate to remain at 2.00 percent

Handelsbanken  Anders Brunstedt Oct 27, 2011

Analysis

Sweden: Repo rate held unchanged at 2 per cent

Riksbank  Oct 27, 2011

Analysis

Sweden: Riksbank to Put Tightening Campaign on Hold

Morgan Stanley  Elga Bartsch and Tomasz Pietrzak Oct 25, 2011

Analysis

Norway: Banks tighten their credit standards; Sweden: Hikes on hold until summer

DNB Nor  Kyrre Aamdal and Kjersti Haugland Oct 24, 2011

News

Sweden to Withstand Growth Slowdown With Surpluses, Agency Says

Bloomberg  Johan Carlstrom Oct 25, 2011

News

Swedish Banks May Win Time on Capital Rules

Bloomberg  Adam Ewing and Johan Carlstrom Oct 24, 2011

Analysis

Lowered Swedish GDP forecast

Handelsbanken  Anders Brunstedt Oct 18, 2011

News

Nordic Banks Risk Backlash From Investors Seeking Cost Cuts

Bloomberg  Adam Ewing Oct 18, 2011

Analysis

Sweden: More marked slowdown

SEB  Oct 19, 2011

Analysis

Sweden: International dependence and monetary policy

Riksbank (Central Bank of Sweden)  Karolina Ekholm Oct 14, 2011

Analysis

Weekly Focus: Finally some relief

Danske Bank  Allan von Mehren and Steen Bocian Oct 14, 2011

Analysis

Sweden and Norway-Fabulous recovery in Sweden coming to an end

J.P.Morgan  Nicola Mai Oct 07, 2011

Analysis

Sweden: SWE: CPIF in line with Riksbank's forecast

SEB  Olle Holmgren Oct 11, 2011

News

Swedish Riksbank Won’t Offer Liquidity Below Market Rates

Bloomberg  Johan Carlstrom Sep 30, 2011

News

Riksbank’s Oeberg Signals Premature to Shelve Rate Rises

Bloomberg  Johan Carlstrom Oct 7, 2011

News

Swedish August Industrial Production Falls More Than Estimated

Bloomberg  Johan Carlstrom Oct 10, 2011

News

Sweden gets new enterprise minister after party leader swap

Reuters  Patrick Lannin and Daniel Dickson Sep 29, 2011

Analysis

¨An index of financial stress for Sweden

Riksbank (Central Bank of Sweden)  Maria Strömqvist, Johannes Forss Sandahl, Mia Holmf eldt and Anders Rydén Oct 10, 2011

Analysis

SEB’s housing price indicator still at low level

SEB  Sanna Eckardt Oct 10, 2011

Analysis

Sweden: Weaker than expected production in August

Handelsbanken  Anders Brunstedt Oct 10, 2011

Analysis

Nordic Outlook

Danske Bank  Oct 06, 2011

Analysis

September CPI inflation forecast: 3.3%

Handelsbanken  Oct 05, 2011

Analysis

Sweden: A pale light in the north

Danske Bank  Roger Josefsson Oct 05, 2011

Analysis

Sweden: Further PMI weakening

Handelsbanken  Anders Brunstedt Oct 03, 2011

Analysis

Sweden: NDO should be allowed to borrow for buying assets

SEB  Charlotte Asgermyr and Olle Holmgrem Sep 29, 2011

News

Swedish benchmark stock index hits year low

Reuters  Johan Ahlander Sep 28, 2011

News

Swedish cbank says domestic banks strong

Reuters  Johan Sennero Sep 27, 2011

News

Swedish Banks Can Handle Loan Losses, Riksbank’s Nyberg Says

Bloomberg  Johan Carlstrom Sep 27, 2011

News

Sweden’s Borg Says Capital Level in European Banks ‘Too Low’

Bloomberg  Alaa Shahine Sep 24, 2011

Analysis

Swedish non-financial corporations’ financing - survey

Riksbank (Central Bank of Sweden)  Sep 28, 2011

Analysis

Sweden: Economic Tendency Indicator fell three points in September

National Institute of Economic Research (Sweden)  Sep 28, 2011

News

Swedish Banks Can Still Tap U.S. Funds, Riksbank’s Persson Says

Bloomberg  Jonas Bergman and Peter Levring Sep 15, 2011