ISTANBUL
Sweden’s gross domestic product (GDP) contracted 0.8% in the second quarter of the year compared to the quarter before, according to the country’s statistical authority on Monday.
On a monthly basis, Sweden’s GDP climbed 0.9% in June, in line with the preliminary estimates, the data showed.
Although the June GDP was 1.9% higher year-on-year, this quarter’s GDP remained in line with the same quarter last year.
Meanwhile, the country’s monthly retail sales volume dropped 0.3% in June.
The data revealed that retail sales in durables fell 0.7%, while retail sales in consumables climbed 0.3% in the same period.
On an annual basis, the growth rate of retail sales was minus 0.1% in June.
In fixed prices and non-working-day adjusted figures, Sweden’s total retail trade volume reduced 3.1% year-on-year.
Meanwhile, turnover in retail trade measured in current price fell 1.6% in June on an annual basis, as retail sales of durables decreased 3.5% while consumables increased 1.8%.
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