August 5, 2020

Swedish GDP drops 8.6% despite no lockdowns

Stockholm (AFP) – Sweden’s economy shrank 8.6 percent in the second quarter, the nation’s statistics service said Wednesday, even though the country never imposed strict coronavirus lockdowns seen elsewhere in Europe.The fall in gross domestic product (GDP) when compared to the second quarter of 2019 came in at 8.2 percent.According to Statistics Sweden, the downturn represented the largest drop since at least 1980, which is as far back as comparable statistics are available.Sweden’s government is expecting a six percent fall in GDP for the year as a whole — the largest since 1940.The GDP fig…


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