FX.co ★ Sweden's Economy Shows Signs of Recovery: Q1 GDP Grows by 0.7%

In a positive turn for the Swedish economy, the latest data reveals a notable improvement in the country's GDP for the first quarter of 2024. Updated figures released on May 30, 2024, show that Sweden's GDP grew by 0.7%, a significant improvement from the -0.1% contraction witnessed in the previous quarter.

This quarter-over-quarter comparison indicates a strengthening economic environment, suggesting that measures to stimulate growth may be gaining traction. The previous period's data marked a challenging end to 2023, with economic contraction reflecting broader global and domestic challenges.

Now, with a 0.7% growth in the first quarter of 2024, Sweden appears to be on a recovery path. This uptick could provide a much-needed boost in confidence for investors and policymakers aiming to sustain economic growth throughout the remainder of the year.