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GDP Revised Slightly Higher In March MPR Forecasts

RIKSBANK

Rounding out the other key forecast changes in the March MPR:

  • The level of GDP is revised slightly higher, with the Q1 '24 GDP expected at 0.0% Q/Q and Q2 and 0.4% Q/Q.
  • The unemployment rate path has been revised lower. From the MPR: "The weak GDP growth is expected to have a relatively limited impact on the Swedish labour market going forward. This is in part due to companies being reluctant to reduce their workforces despite weak demand, something which is confirmed by the Riksbank’s Business Survey".
  • CPIF ex-energy has been revised slightly lower in the first half of 2024, with smaller changes further out.
  • In addition: "The Riksbank assess the krona to be undervalued and will appreciate gradually during the forecast period"



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