Swedish GDP increases in fourth quarter of 2007

Statistics Sweden recently announced that the country’s gross domestic product (GDP) increased 2.8 percentage points in the fourth quarter of last year, compared with the same period in 2006.

In comparison with the third quarter of 2007, seasonally adjusted GDP increased 0.8 percentage points.

Statistics Sweden (SCB) attributed much of the growth to increased household consumption levels and gross fixed capital formation.

Household consumption expenditure was up by 3.2 percentage points in the quarter while gross fixed capital formation increased 7.5 percentage points.

Exports were also up by 4.9 percentage points, while imports increased by 7.5 percentage points. Total employment also increased by 3.6 percentage points.

Industrial production increased by 4 percent. The figure can be broken down into total production of goods, which increased by 3.7 percent and service sector industries, which saw a 4.2 percent increase.

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