Sweden Cuts GDP Growth Outlook

(RTTNews) - Sweden's government downgraded its economic outlook and consumer price estimates, the Finance Ministry said in a statement on Saturday.

Gross domestic product is expected to grow 1.9 percent in 2014, much slower than the 2.7 percent expansion estimated in July. Similarly, the estimate for next year was lowered to 3 percent from 3.3 percent.

The ministry forecast annual average consumer prices to fall 0.1 percent in 2014 instead of a 0.2 percent rise estimated previously. For 2015, inflation is seen at 1.1 percent, down from 1.6 percent.

Meanwhile, it raised the estimate for the 2014 unemployment rate to 7.9 percent from 7.7 percent.