Sweden's economy grew by 1.1% in August, boosted by household spending

Sweden's gross domestic product (GDP) expanded by 1.1% in August compared to July, according to data released Friday by the country's Statistics Office.

On an annual basis, the Swedish economy grew by 2.4%, adjusted for calendar effects, compared to August 2024.

The Statistics Office attributed the monthly economic growth to increased household consumption and higher business production.

"The Swedish economy grew in August, driven by stronger household consumption and higher business production," the Statistics Office said in a statement.