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Sweden's annual economic growth beats forecasts

Xinhua, March 1, 2016 Adjust font size:

Sweden's economy grew at a faster pace than expected during last year, figures released on Monday showed.

Sweden's GDP grew by 1.3 percent during the fourth quarter compared to the previous quarter, the government agency Statistics Sweden announced.

Year-on-year quarterly growth reached 4.5 percent, higher than the 3-percent GDP rise forecasted by the country's central bank.

"This is the fifth quarter in a row with a stable rise of about 1 percent," the agency noted, crediting export figures and car consumption with adding to the growth.

Measured annually, Sweden's economy grew 4.1 percent during 2015 compared to 2014.

Fourth-quarter exports rose 2.9 percent compared to the previous quarter, tacking on 1.3 percent to the quarter-on-quarter growth figure, Statistics Sweden said.

Finance Minister Magdalena Andersson welcomed the figures but cautioned that turbulent stock markets and wavering economic indicators in the United States could affect Sweden going forward.

"(The figures) confirm the perception that the Swedish economy is performing strongly. At the same time, one must mention that there are some darker clouds in the rest of the world," Andersson told news agency TT. Endit