empty
 
 

2023.02.0811:01:00UTC+00Swedish Household Spending Falls Most Since Early 2021

Sweden's household spending logged its worst decline in nearly two years in December amid the rising inflationary pressures, figures from Statistics Sweden showed on Wednesday.

Household spending fell a working day adjusted 1.8 percent year-on-year in December, following a 0.7 percent drop in November. This was the second successive monthly decrease.

Further, the latest annual decline was the steepest since January 2021, when household consumption dipped 3.9 percent.?

The current downturn was largely driven by a 4.7 percent lower consumption of food and beverages.?Meanwhile, transport and retail sales and service of motor vehicles made a positive contribution of 5.0 percent in December.

On a seasonally adjusted basis, household consumption dropped 0.8 percent monthly in December.

The COVID-19 outbreak started to significantly impact household consumption in April 2020, which should be taken into account when comparing annual development statistics, the agency said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback