Friday, July 29, 2011

Bloomberg: Swedish Growth Quickens, Signals Rate Increase


Swedish Growth Quickens, Signals Rate Increase

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Swedish economic growth unexpectedly accelerated in the second quarter, underlining the likelihood that the central bank will press ahead with planned interest- rate increases to cool Europe’s biggest economic expansion.
Gross domestic product grew more than estimated in the three months through June, increasing a seasonally adjusted 1 percent, up from 0.8 percent in the previous quarter, Stockholm- based Statistics Swedensaid today. That compares with a median estimate of 0.6 percent in a survey of 16 economists. Annual growth slowed to 5.3 percent from 6.4 percent in the first three months.

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