Sweden Q2 GDP revised down
2012-09-14 12:01:08
The Swedish economy expanded at a weaker pace than estimated previously in the second quarter of 2012, data released by Statistics Sweden showed Friday.
The seasonally adjusted gross domestic product rose a revised 0.7 percent quarter-on-quarter in the second quarter, compared to 1.4 percent growth reported in the preliminary estimate. The first quarter GDP growth was also revised down to 0.7 percent from the previously estimated 0.9 percent expansion.
On an annual basis, GDP rose 1.3 percent in the second quarter on a working-day adjusted basis, weaker than the earlier estimate of 2.3 percent. The first quarter 2012 GDP growth has been revised downwards by 0.2 points.
Compared to the first quarter, household spending increased 0.8 percent and government expenditure grew 0.4 percent on a un-adjusted basis. The changes in inventories amounted to a negative GDP change of 0.5 percentage points.