Swedish Q2 GDP up 1.0 pct from Q1; up 3.6 pct year-on-year

Aug 2, 2007 - Sweden's calendar-adjusted GDP rose by 3.6 pct during the second quarter compared to a year earlier, Statistics Sweden (SCB) reported.

Compared to the first quarter of 2006, the seasonally adjusted GDP grew by 1.0 pct.

Market expectations were for a quarterly rise of 0.7 pct and an annual increase of 3.2 pct, according to SME Direkt.

Household consumption and gross fixed capital formation made the highest contributions to GDP growth, SCB said.

Gross fixed capital formation was up 9.2 pct year-on year, while household consumption expenditures increased 2.5 pct.

Exports increased 5.9 pct and imports rose 7.8 pct, while general government expenditures increased 1.9 pct.

Total employment, measured as the number of hours worked, was up 4.0 pct on year.