Swedish economy grows 0.2% in Q4, flash figures show

STOCKHOLM (Reuters) - Sweden's gross domestic product grew 0.2% in the fourth quarter from the previous three-month period, a flash estimate from the statistics office showed on Wednesday.

In the month of December alone, the economy grew 0.7%.

Against the same period a year earlier, the economy expanded 1.1% during the last three months of the year.

Analysts had forecast growth of 0.3% quarter on quarter and 1.1% compared to the same period in 2023.

The economy grew 0.6% in 2024, according to the flash estimate, after shrinking 0.2% in the full year 2023.

Sweden's economy has stuttered for the last couple of years as households and businesses have struggled to adjust to higher interest rates aimed at taming a surge in inflation, which topped 10% in late 2022.

Rates have come down again, but the full effects have yet to feed through to the economy.

The central bank is widely expected to announce a quarter percentage point cut in the policy rate later on Wednesday as it looks to spur growth.

(Reporting by Simon Johnson, editing by Terje Solsvik and Anna Ringstrom)

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