Sweden reported a 0.8% decline in GDP in July 2026, compared to the previous month, according to new data from Statistics Sweden (SCB).
However, when adjusted for calendar effects, GDP was 2.5% higher in July than in the corresponding month in 2025, the data showed.
“Economic activity in the Swedish economy continued to decrease for the second month in a row and is now back around the levels seen in spring before the strong growth numbers in May,” commented Mattias Kain Wyatt, economist at Statistics Sweden.
“Year on year economic growth, however, remain clearly above the historical average seen over preceeding decade.”
The latest monthly decline follows Sweden’s 1.6% seasonally adjusted quarterly GDP growth in the second quarter of 2026.
GDP, seasonally adjusted volume development and index (2025 = 100)
Swedish economy
Other Statistics Sweden data indicates that private-sector production was unchanged in July.
The Swedish statistics agency’s current headline indicators put unemployment at 8.7% in July, while the CPI inflation rate was 0.2% and the CPIF rate 0.7%. Household lending growth was 3.3% in July.
Swedish industry is finding the going tougher, however, with total industry orders declining 24.1% in July, compared with the previous month. Compared with July 2025, total industry orders decreased by 0.5% according to calendar adjusted figures. Read more here.
