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Sweden's Q4 GDP grew 0.1% after two quarters of contraction; yearly GDP declined 0.3%, but economists hope reduced inflation could prevent a 2024 contraction.
Sweden's GDP grew by 0.1% in the fourth quarter of 2023, recovering after two consecutive quarters of contraction, according to preliminary data from Statistics Sweden.
The overall GDP growth for the year was negative at 0.3%.
Retail sales fell 2.2% yearly and 0.2% monthly in December.
Despite a challenging near-term outlook, economists are hopeful that receding inflation could lead to more lenient monetary policies and increased government spending, potentially avoiding a second year of economic contraction in 2024.
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El PIB de Suecia en el cuarto trimestre creció un 0,1% después de dos trimestres de contracción; El PIB anual disminuyó un 0,3%, pero los economistas esperan que la reducción de la inflación pueda evitar una contracción en 2024.