2018.09.1306:00:00UTC+00Sweden's GDP Growth Accelerates In Q2

Sweden's economy expanded at a faster pace in the second quarter but remained weaker than the previous estimate, revised data from Statistics Sweden showed Thursday.

Gross domestic product grew 0.8 percent sequentially, faster than the 0.5 percent expansion seen in the first quarter. The quarter-on-quarter growth was revised down from 1 percent.

On a yearly basis, GDP growth slowed to 2.5 percent from 2.8 percent a quarter ago. The second quarter growth was revised down from 3.3 percent.

The expenditure-side breakdown of GDP showed that household and government spending advanced 0.9 percent and 0.3 percent, respectively.

Changes in inventories contributed to GDP growth by 0.6 percentage points in the second quarter.

Meanwhile, gross fixed capital formation decreased 0.5 percent. At the same time, exports gained 0.4 percent and imports climbed 0.8 percent.