Statistics Sweden's recent report indicates that the Swedish economy remains stagnant, with key indicators suggesting a recession as ten of twelve metrics fall below long-term trends.
While there was a slight GDP uptick in June, Statistics Sweden reports a continued decline in household consumption, suggesting ongoing economic struggles despite lower inflation rates.
The central bank, Riksbank, has effectively reduced inflation below its two percent target, yet the Policy Rate, now at 3.50 percent, may influence consumer spending negatively.
The business cycle clock from Statistics Sweden highlights a concerning picture, with nine out of twelve key economic indicators clearly indicating recessionary conditions as of June 2024.
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