Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country VERBATIM: Data released by Statistics Sweden showed that the country’s gross domestic product declined by 0.3% in the period ending in October. Jessica Engdahl of the statistical agency said […]
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Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country
Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country
VERBATIM:
Data released by Statistics Sweden showed that the country’s gross domestic product declined by 0.3% in the period ending in October. Jessica Engdahl of the statistical agency said that “the downturn in the economy was broad, but was held back somewhat by strong service exports.” Two consecutive quarters of contraction is a common definition of recession. But, economists on the eurozone business cycle dating committee use a broader set of data, including employment figures.