Surprisingly very poor data on Swedish economic performance
Friday, 22 November 2013
Data analyzed about the Swedish economic performance examined recently
has surprised most and shown that the economy presented itself
negatively among others comparative economies recently.
Not long ago the Swedish economy was characterized and described as the
"Tiger economy" given that it was growing reminiscent of the Asian
tiger economies. But things have stalled and unepected, the Swedish
economy has been associated with negative or dismal economic numbers,
according to Citigroup in its surprise index, reports Swedish business
daily Dagens Industri.
According to the report and analysis in the Swedish paper, Sweden's
economic statistics have recently tightened on the weaker side. In
relation to the expectations, as measured by news agency Bloomberg
analyst surveys, the Swedish data surprised the most negative of all
countries and regions which Citigroup follows.
Second most negative is data coming in from Latin America and surprised
as the third-most in the growth regions. At the other end of the
spectrum are Canada and Japan. There, the economic statistics have been
better than expected.
Also Swedish bank, Handelsbanken notes that the Swedish figures were worse than expected lately.
"Swedish data has generally surprised on the downside in recent times
as reflected clearly in surprise index, especially compared to the euro
zone, "the bank said in a market letter.
Handelsbanken economists believe, however, that trends change was supported by the recent weaker krona.
"As we have previously pointed out, the Swedish data to a large extent
has been affected by movements in the exchange rate. The recent
weakening of the krona should provide support for the Swedish data and
we should expect consideration surprises on the upside for some time,"
the bank writes.
By Scancomark.com Team