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MNI: SWEDEN DATA: GDP (Q1 2019) Preview - 08:30......>

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MNI: SWEDEN DATA: GDP (Q1 2019) Preview - 08:30 BST
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- Bbg Consensus: 0.2% q/q, 1.7% y/y; Previous (Q4): 1.2% q/q, 2.4% y/y
- Economy expected to have slowed sharply in Q1 after a strong finish to 2018...
- ... with growth having jumped to 1.2% q/q in Q4 from -0.1% in Q3 
- The surge in Q4 was driven by HH consumption (+0.7%), govt spending (+0.6%)
and net trade (exports grew by 3.1%, while imports increased by a softer 1.4%)
- Changes in inventories also boosted growth, contributing 0.3pp to the overall
quarterly expansion
- Gross fixed capital formation, however, slumped by 1.6% q/q
- Although the housing market has been more stable recently, previous house
price declines are still weighing on construction investment & consumer spending
- With fairly subdued real wage growth & a more sluggish labour market, HH
spending is likely to remain fairly restrained over the coming quarters 
- Overall, Sweden's lacklustre growth outlook, coupled with muted inflation
pressures, suggests the Riksbank will refrain from hiking rates for a while yet

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