Friday, March 4, 2011

Dr. Doom Likes Sweden

Brian Milner writes about Sweden's economy in the The Globe and Mail (Canada):
How Sweden emerged as Europe's big winner
The Swedish economy grew at a 7.3-per-cent annual clip in the fourth quarter according to Statistics Sweden (SCB). "That’s the fastest growth ever recorded by the stats gatherers, who only began tabulating quarterly numbers in 1970. Expansion for the full year totalled more than 5.5 per cent. And it was broadly based, with increased consumer spending and business investment added to booming exports," Milner writes. He quotes Nouriel Roubini, also known as Dr. Doom:

“Sweden’s growth prospects look strong, compared with those for many other advanced economies, but growth is nevertheless expected to slow down,” Roubini Global Economics said in a note to clients.That slowdown will be a modest one, RGE says, largely stemming from the end of the inventory rebuilding effect that always follows recessions."

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