GDP up by only 0.2% q/q, below forecasts
- Household consumption weaker than forecast at 2.9% y/y (our call was 3.5%)
- Also fixed investments below our view
- Exports somewhat better than expected
- Q2 GDP is a flash estimate – take the figures with a pinch of salt
Details, Q2 flash GDP:
GDP: 0.2% q/q (Nordea 0.9; consensus and Riksbank 0.6; prior -0.1)
GDP: 1.9% y/y (Nordea 2.6; consensus and Riksbank 2.4; prior 1.9)
Nordea