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Swedish Economy Set to Slow in 2019 as Norway Takes Lead


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Swedish Economy Set to Slow in 2019 as Norway Takes Lead

Business

Category: Financial / Investment

Sweden’s economic prospects have dimmed in recent months and the country will likely be surpassed by Norway as the fastest-growing Scandinavian economy in 2019, a Reuters poll found on Tuesday.

It would be the first time in more than half a decade Sweden failed to top the region’s growth league, although it was still set to expand at a slightly faster pace than Denmark, the final member of the northern European trio.

“Norway and Sweden are in many ways in different stages of the cycle,” Nordea Markets economist Erik Bruce said.

“Norway is on its way up after a weak period, while Sweden is facing the opposite development. Following a period of strong growth, Sweden is looking weaker as its main export markets are losing steam,” he added.

Source: Reuters

Published: June 16, 2019