STORY HIGHLIGHTS


Sweden economic growth slows

CNC
Added On February 8, 2019

 A report shows shaky property prices and reduced global demand are hurting Sweden's economic growth.

 
According to the report by Nordic financial services group, Nordea Bank, Sweden's housing market is growing at only one percent. It's estimated that the country's GDP and inflation rate will also decline to one percent.
 
The unemployment rate is expected to remain at 6.3 percent in 2019, while new home construction will shrink from 63,000 units in 2017 to 35,000 units in 2020.
 
Nordea forecasts that Sweden's central bank will raise its benchmark repo rate to zero percent by the end of 2019 and to 0.25 percent by January 2020.
 
A so-called "hard Brexit" could result in Sweden losing 0.5 percent of it's gross national product .