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Sweden: Economy driven by upswing in exports and domestic demand

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  • Oscar-Erich Kuntze

Abstract

Swedish economic growth in 2003 was moderate although the Iraq war and the strong increase in the oil price had a retarding effect in the spring. The real gross domestic product increased by around 1½%, which was higher than the western European average. On the labour market the situation deteriorated clearly, the unemployment rate increasing to 5½% for the year. The cost of living increased by around 2.3%. In 2004 real GDP will expand by only 2¼%. The unemployment rate will increase to 5¾% for the year, and consumer prices will be around 1½% above the level of 2003. In 2005 real GDP will grow by approximately 2¾%. The unemployment rate will fall to 5½% and prices will grow by approximately 2%.

Suggested Citation

  • Oscar-Erich Kuntze, 2004. "Sweden: Economy driven by upswing in exports and domestic demand," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(04), pages 24-32, February.
    • Handle: RePEc:ces:ifosdt:v:57:y:2004:i:04:p:24-32
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    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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