Friday, July 29, 2011

Bloomberg: Swedish Growth Quickens, Signals Rate Increase

Swedish Growth Quickens, Signals Rate Increase

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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