The GDP indicator provides an early picture of the development of the gross domestic product, GDP. It is compiled on a monthly and quarterly basis with more limited and preliminary statistics than the regular quarterly national accounts. The monthly version of the indicator lies outside the official statistics and is classified as statistics under construction.

“Activity in the Swedish economy increasing in March after contractions in January and February, resulting in the first quarter as a whole being largely in line with last quarter of the previous year", says Mattias Kain Wyatt, economist at Statistics Sweden.

Balancing and revisions

In a first step, the GDP indicator calculates two separate GDP outcomes from the production and use side of the economy. Then a reconciliation is made in which one side is adjusted downwards and the other side is adjusted upwards to arrive at a single final result. Before reconciliation, the statistical data in March showed actual GDP development from the use side of 2.6 percent and corresponding development from the production side of 2.9 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of 2.8 percent.

For the first quarter as a whole, non-adjusted GDP development was 0.7 percent for the use side and 0.6 percent for the production side compared with the corresponding quarter a year ago. This resulted in actual GDP growth of 0.6 percent.

March had one less working day than the corresponding month last year while the quarter as a whole had one additional working day compared to the same quarter last year. 

In accordance with revision policy for the GDP indicator, only months in the current quarter have been revised, that is, January and February.

Additional information

Time series and revision history for the GDP indicator.

For more information about the indicator, see Compilation of the Swedish GDP indicator.