Sweden's GDP shrinks 1 pct in Q2: statistics

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Sweden's GDP shrinks 1 pct in Q2: statistics

STORY: Sweden's GDP shrinks 1 pct in Q2: statistics DATELINE: Aug. 30, 2023 LENGTH: 00:01:59 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Sweden Statics 2. various of Stockholm city 3. various of shopping mall in Stockholm 4. various of Sweden Parliament 5. various of Stockholm City Hall 6. various of Sweden's central bank STORYLINE: Sweden's gross domestic product (GDP) shrunk by 1 percent year-on-year in the second quarter (Q2) of this year while household consumption decreased for the fourth consecutive quarter, according to statistics released on Tuesday. Compared to the first quarter (Q1) and seasonally adjusted, GDP dropped 0.8 percent, Statistics Sweden (SCB) said. The figures are slightly more positive than the preliminary ones released in July. Sweden's Q2 GDP contracted by 2.4 percent year-on-year and by 1.5 percent quarter-on-quarter, the SCB's preliminary figures said on July 28. "The second quarter of 2023 was generally weak with declines in several of the main com

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