Eurozone officially falls back into Recession

[Jackmoves]

Just thought I'd add Sweden into this, SCB always report quarterly reports some 60 days later.


Sluggish Swedish economy still beats growth forecasts

By Charles Duxbury

STOCKHOLM--Swedish economic output growth slowed in the third quarter amid a drop in exports, official data showed Thursday, but the slowdown was slightly less abrupt than economists had expected.

The economy expanded 0.5% compared with the previous quarter and 0.7% from the same period a year earlier, Sweden's statistics office said. Economists polled by Dow Jones Newswires had expected quarterly growth of 0.2% and annual growth of 0.5%.

In the second quarter, the Swedish economy expanded 0.7% from the preceding quarter and grew 1.3% from a year earlier.

The gross domestic product data gave a small boost to the Swedish krona which strengthened to SEK8.5963 to the euro from SEK8.6146 before the numbers were released.

The statistics agency said that, amongst other things, household consumption expenditures grew by 1.3% while exports fell by 2.3%.

About half of Swedish gross domestic product comes from exports and some 35% of goods shipped from the Nordic state go to the troubled euro zone. As the bloc struggles to get to grips with some crushing debt, its demand for imports from Sweden has fallen.

Sweden's central bank is widely expected to cut its benchmark interest in December to give the economy a lift. The Riksbank expects growth for 2012 as a whole to slow to 0.8% from 3.9% in 2011.

Sweden's finance minister recently said his September forecast of 1.6% growth this year now looks too optimistic.

[Hardstyler01]

The economy which saw the biggest fall in the last quarter was the Netherlands - it shrank by 1.1%. Both northern and southern Europe are hurting.

The only reason the Netherlands isn't doing very well is because we're trying to lower our debt. People have less to spend and thus the economy goes down as well. We wouldn't have so much debt (and thus no reason to lower it on such a short term) if we didn't pay Greece.

So yeah, Greece is quite directly influencing our economy. Thank you Greece and thank you France for convincing the rest to let Greece join in the first place.

Edit: Besides, it's illegal for EU countries to lend eachother financial aid. But I don't think anyone willing to sue the EU is going to win.

[Yrrildur]

Mr. Hardstyler01 over here needs to take a few courses in economics.

The rest of us just keeps on going and we'll see where we end up.

[Hardstyler01]

Mr. Hardstyler01 over here needs to take a few courses in economics.

Go ahead and point out where I'm wrong. Or are insults all you got?

[Heksar]

I hope we (Finland) go back to the old currency.. Much more easier and wouldn't have to worry bout these things!

[Wookeh]

All this "go back to our previous currency" isn't going to help anyone. We have a turd or two in the punchbowl that need to be put in their place but instead we keep on holding their hand and sending them money while they refuse to fix their shit... and when they make a plan, everyone decides to break stuff because hey, that'll fix it!

[AeneasBK]

Can we stop comparing Norway and the other Scandawegian states to the rest of Europe... You guys have more resources per capita than the rest of Europe...

Would love to see how Norway coped with a population of 50 million.

Or how the UK would manage if it only had to look after 40 million, not 70...

Guess Germany just sails in and disproves that one, but yeah, gets my goat when people tout Norway or Sweden as great economical strategists when they have a fraction of the mouths to feed, but LOTS of country to draw from...

[Jackmoves]

Can we stop comparing Norway and the other Scandawegian states to the rest of Europe... You guys have more resources per capita than the rest of Europe...

Would love to see how Norway coped with a population of 50 million.

Or how the UK would manage if it only had to look after 40 million, not 70...

Guess Germany just sails in and disproves that one, but yeah, gets my goat when people tout Norway or Sweden as great economical strategists when they have a fraction of the mouths to feed, but LOTS of country to draw from...

Just reporting in. I think we all have an interest in one anothers countries since we all share the same boat so to speak. If we are going down, we are going down together, there is no way around that, some are worse off though. But this wasn't an attempt tout anything.

Having a larger internal market(numbers of people), does not have to be a negative thing either.

[AeneasBK]

Just reporting in. I think we all have an interest in one anothers countries since we all share the same boat so to speak. If we are going down, we are going down together, there is no way around that, some are worse off though. But this wasn't an attempt tout anything.

Having a larger internal market(numbers of people), does not have to be a negative thing either.

Absolutely, it just frustrates me when people suggest that adopting thier financial policies would solve any problems. Their financial policies work for them, but that doesn't mean it would work elsewhere

[Armass]

I wonder how long theyre going to keep dangling Greece along before they finally let go?

[Jackmoves]

Absolutely, it just frustrates me when people suggest that adopting thier financial policies would solve any problems. Their financial policies work for them, but that doesn't mean it would work elsewhere

Yeah, nordic/scandinavian countries apply the same economic theories as others though for the most part. I think any smart statesman will try to learn from others though, this is an ongoing process for almost all countries, if something works great in lets say France you look at that and try to maybe learn a bit from it. Of course one needs to take into account all the actual differences there are, you can't just copy paste something and voila magic. As you said some things wont work or be suitable just because it works elswhere.

I think it's quite interesting to follow EU diplomacy and politics at times, esp now when things are as they are. For example the deal with the EU budget.

[stabetha]

Wonder how many posts we'll get in before someone blames it on Socialism.

yeah right everyone knows it's Bush's fault

[Wells]

yeah right everyone knows it's Bush's fault

You know I hear "ololol its all bush's fault" way more than I actually hear people blame bush.

[Grizzly Willy]

yeah right everyone knows it's Bush's fault

*Looks at signature*

Wait, you're judging people now?

[Fugus]

i blame it on socialism

I was actually wondering something entirely different. Just how much tax revenue have they lost due to companies funneling their income through Ireland and tax loopholes which effects every other area negatively. =)

[Spectral]

It's almost like having an economic region with unified monetary policy, but separate fiscal policies, isn't really a very good idea.

[Kasierith]

It's almost like having an economic region with unified monetary policy, but separate fiscal policies, isn't really a very good idea.

I would say it looks good on paper, but even in a theoretical sense it's a rather dubious concept.

[UnC]

Euro been rich for too long, time to let other continents take that place!

It might be unrelated, but Estonia's flag is beautiful.

[Grizzly Willy]

Euro been rich for too long, time to let other continents take that place!

How do you determine this?