Swedish Economy Contracts Further

Sweden's economy shrank for the 4th consecutive 4th successful the 3 months ending March, preliminary information from Statistics Sweden showed connected Monday.

Gross home merchandise decreased 0.1 percent sequentially successful the archetypal quarter, the aforesaid arsenic successful the 4th quarter. That was successful enactment with expectations.

Compared to past year, the complaint of alteration successful GDP was a diminution of 0.2 percent versus a 1.1 percent driblet successful the December quarter.

On a monthly basis, the system contracted astatine a unchangeable complaint of 0.3 percent successful March. It was the 2nd successive monthly fall.

Separate authoritative information showed that retail income dropped 0.4 percent month-on-month successful March, reversing a 0.5 percent emergence successful February. Sales fell for the archetypal clip successful 4 months.

Sales of consumables contracted 0.3 percent implicit the month, and those of durables slid by 0.4 percent.

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