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Sweden's economy returns to growth
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21:47, September 11, 2009

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The Swedish economy returned to growth in the second quarter, Statistics Sweden said Friday, indicating the country's worst recession may be over.

Compared to the figures published in July, GDP growth for the second quarter, both in actual and calendar-adjusted terms, has been revised upwards by 0.2 percent, said the agency in a statement.

But compared to the same period in 2008, the country's GDP decreased by 6.0 percent in the second quarter in working-day adjusted figures, the statement said.

It said household consumption expenditures decreased by 1.8 percent compared to the first quarter in 2009, while general government consumption expenditures remained unchanged.

"Gross fixed capital formation decreased by 18.9 percent. Exports decreased by 16.9 percent and imports by 20.3 percent. Industrial production decreased by 8.2 percent."

Total production of goods decreased by 15.1 percent and service sector industries had a 3.8 percent fall. Total employment, measured as the number of hours worked, decreased by 4.2 percent while the number of employed decreased by 2.2 percent, the statement added.

Source: Xinhua

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