Swedish economy shrank 0.3% in 2023: official data

AFP, STOCKHOLM

Sweden’s economy shrank by 0.3 percent in 2023 but technically emerged from recession in the last three months of the year when it grew 0.1 percent, official statistics showed on Monday.

A “strengthening” of net export helped to offset weaknesses elsewhere in the economy in the fourth quarter, said Mattias Kain Wyatt, economist at Statistics Sweden.