Swedish GDP Grows 1.1% In Q3

(RTTNews) - Sweden's economy expanded more than expected in the third quarter, preliminary data from Statistics Sweden showed on Wednesday.

Gross domestic product advanced 1.1 percent sequentially in the third quarter, following a 0.1 percent rebound in the second quarter. Economists were expecting a 0.8 percent growth.

The strong August month figures helped the overall expansion in the September quarter.

On an annual basis, GDP growth accelerated to 2.4 percent from 0.9 percent in the second quarter. The expected increase was 1.6 percent.

On a monthly basis, the economy shrank 0.1 percent in September, reversing a 1.2 percent rebound in August. Meanwhile, GDP rose 2.7 percent annually, slightly faster than the 2.6 percent increase in the prior month.