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Swedish economy beats largest European economies in 2016

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Staff writer ▼ | May 31, 2016
New figures from a Swedish government agency show that the country's economy is outpacing European giants like Germany and Great Britain.
Swedish economy
North of Europe   According to Statistics Sweden:
According to Statistics Sweden (SCB), the Nordic nation’s GDP grew by 4.2 percent in the first quarter of 2016 in comparison to the same period last year. Growth was up as much as 4.9 percent during the final period of 2015, meanwhile.

Compare that to Great Britain, which saw GDP grow by only 2.1 percent in both quarters, and Germany, which saw 1.6 percent growth in the first quarter of 2016 and 1.3 percent in the final quarter of 2015 respectively, and the Swedish economy comes out well from the latest round of stats.

Reasons cited for Sweden’s positive movement include a strong construction sector, high household consumption and high public investment, and the Scandinavian country’s government was quick to highlight the health of its economy upon the release of the figures.