The stronger-than-expected rise in Sweden’s GDP Indicator in May means that we will undoubtedly be revising our Q2 GDP forecast for the country higher when we publish updated forecasts in the coming week or so. But with darkening clouds over the economic outlook in Sweden’s key trading partners, and the consumer engine of growth likely to splutter as interest rates rise, most or all of the stronger growth in Q2 will probably be offset by weakness in H2.
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