Research Briefing | Jan 18, 2022

Sweden 2022 GDP growth forecast remains as expected despite Omicron

Ipad Frame - Sweden-2022-GDP-growth-forecast-remains-as-expected-despite-Omicron

We have kept our growth forecast for this year unchanged at 3.2%, as we expect the impact of the Omicron wave to be mild. The latest data on production and consumption confirm this. Although recently tightened, we expect Sweden to maintain minimal formal restrictions.

What you will learn:

  • Consumers are likely to voluntarily change their behaviour during the winter months, which will adversely impact close-contact services, but we expect a rebound from Q2.
  • Monthly GDP data up to November point to growth of around 1% q/q in Q4, slightly higher than our forecast, although December was likely a drag.
  • The job recovery continues at a steady pace. According to the Public Employment Service, the unemployment rate stayed at 7.2% in December, in line with the average just before the pandemic.

Back to Resource Hub

Related Services

Post

Asia Pacific: China-India – are all growth stories built on infrastructure?
Find Out More

Post

Europe: Among major southern cities, Madrid looks strongest

We are cautiously optimistic about the medium-term outlook for Europe's cities as a whole, but less sanguine about southern European cities than most others. They have tended to underperform in the past and will probably do so in the future. Madrid, the largest, has the strongest growth prospects of the larger cities.

Find Out More