Sweden | We expect strong growth in Q3
Sweden’s economy grew by 0.9% q/q in Q2 according to the flash estimate. This was below our forecast and driven by tax changes for registering new cars introduced on 1 April. But the monthly GDP series points to an acceleration through the quarter with growth up to 2.5% in June.
What you will learn:
- High-frequency indicators point to the pace of the recovery
slowing recently, probably due to seasonal factors
- The job recovery continues at a steady pace
- The pandemic brought a major fiscal and monetary policy response that has supported jobs and incomes. However, we expect the fiscal impulse to turn negative next year.
- Our forecasts up to 2024 for all of the key economic indicators including GDP, Consumer demand, exports of goods and services, Domestic demand
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Easing financial conditions offer CRE some respite
Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.Find Out More