Tag Archives: covid

Swedish GDP in 2020 and 2021 (predicted)

https://www.bloomberg.com/news/articles/2020-10-06/swedish-gdp-set-to-trounce-euro-zone-u-s-and-even-top-nordics

Headline doesn’t match article. Looks like best comparison is Norway, which has had an aggressive approach.

«“There’s been a lot of talk about Sweden having a milder lockdown than the other Nordic countries” during the coronavirus pandemic, Olsen said in an interview in Copenhagen. “You’d expect Sweden’s economic performance to be way better, but in reality what we see is that the Swedish performance is very close to what we see in the other Nordic countries.”

….

Having a flexible exchange rate regime also helps.

A strong euro has made life more difficult for exporters in Finland and Denmark, whose currency is pegged to the European single currency, Olsen said.»

Sweden Has Become the World’s Cautionary Tale – The New York Times

https://www.nytimes.com/2020/07/07/business/sweden-economy-coronavirus.html

Boom.

«Sweden’s central bank expects its economy to contract by 4.5 percent this year, a revision from a previously expected gain of 1.3 percent. The unemployment rate jumped to 9 percent in May from 7.1 percent in March. “The overall damage to the economy means the recovery will be protracted, with unemployment remaining elevated,” Oxford Economics concluded in a recent research note.

This is more or less how damage caused by the pandemic has played out in Denmark, where the central bank expects that the economy will shrink 4.1 percent this year, and where joblessness has edged up to 5.6 percent in May from 4.1 percent in March.


In short, Sweden suffered a vastly higher death rate while failing to collect on the expected economic gains.»