A decline in exports dragged down Sweden’s economy in the second quarter, even as output contracted less than previously estimated.
Calendar-adjusted gross domestic product declined by 0.8% in the three months through June, compared with the first quarter, according to figures published by Statistics Sweden on Tuesday. The decline is explained by lower goods exports and smaller inventories, authorities said.
The figures will be an important factor for Sweden’s Riksbank to consider at its monetary policy meeting in September. The central bank is widely expected to raise its benchmark rate to 4% from 3.75%, in another move aimed at containing rapid price increases on services.
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