Sweden: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Sweden
IMF Staff Country Reports, August 11, 2008
Source details
- Canonical URL
- Sweden: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Sweden
Other formats
Bibliographic details
- Published: August 11, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451836028.002
Key findings
- Sweden’s economy "has performed well, but is sensitive to global demand."
- "The activity is now moderating."
- "Exports have benefited from sound competitiveness, but euro area and U.S. slowing is causing them to decelerate."
- "Private consumption growth has been relatively smooth, as employment and wages have picked up, and disposable income further benefited from tax cuts."
Economic indicators and labor market
- Employment growth reached 2 percent.
- The unemployment rate declined from 8 percent in 2005 to 6 percent in early 2008.
Channels, risks, and transmission
- External demand sensitivity: slowing in the euro area and U.S. is weighing on export growth.
- Competitiveness has supported exports, but external cyclical weakness is causing deceleration.
- Domestic demand supported by employment and wage pickup and by tax cuts that raised disposable income.
Policy topics and subject areas covered
- Aging
- Banking
- Central bank policy rate
- Fiscal policy
- Fiscal stance
- Income
- Inflation
- National accounts
- Personal income
- Population and demographics
- Prices
Keywords (as provided)
- Aging, Baltics, business confidence, CR, economy, fiscal policy council, Fiscal stance, Global, government, Income, Inflation, inflation expectation, interest rate path, ISCR, lack nuance, market sentiment, slowing economy, staff appraisal