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Stockholm's economy beats national growth rate in Q3

Xinhua, December 18, 2015 Adjust font size:

Businesses in the Swedish capital enjoyed a strong third quarter as unemployment dropped, according to figures presented on Thursday.

The private sector economy in Stockholm county grew by 5.7 percent in the quarter compared to the same period last year, beating Sweden as a whole by more than 1 percentage point, according to figures unveiled by the city-owned company Stockholm Business Region.

"Yet another quarter with strong economic figures for both the city and county. Stockholm has a strong business climate and a good development in the labor market," Olle Zetterberg, CEO of the company, said in a statement.

Some 5,000 new businesses were started in the city during the third quarter, a 6.3-percent increase on the same period in 2014.

Stockholm added 22,000 jobs in the quarter, Stockholm Business Region said, as local bankruptcies declined by nearly 12 percent compared to the same period last year.

The finance and insurance sector added 6,000 jobs during the quarter, a 2.1-percent rise on the same period 2014, while the construction industry saw an increase of 6,500 jobs, an 11-percent quarter-on-quarter spike.

Meanwhile, Stockholm county's population has grown by nearly 32,000 people over the past year, corresponding to a 1.5-percent rise in population. Endit