Stockholm, April 27, (dpa-AFX/GNA) – Sweden’s economy expanded unexpectedly in the three months ended March after contracting in the previous quarter, preliminary figures from Statistics Sweden showed on Thursday.
Gross domestic product rose 0.2% sequentially in the March quarter, reversing a revised 0.5% fall in the December quarter. Economists had expected a 0.1% decrease.
On a yearly basis, the economy also rebounded 0.3% in the first quarter, after a 0.2% decline in the preceding three-month period. It was expected to rise by 0.2%.
Data also showed that gross domestic product (GDP) fell 0.7% year-over-year in March versus a 0.1% increase in February.
On a monthly basis, the economy shrank 0.2% from the previous quarter, when it contracted by 1.1%.
GNA