GDP growth in August

The GDP indicator provides an early picture of the development of the gross domestic product, GDP. It is compiled on a monthly and quarterly basis with more limited and preliminary statistics than the regular quarterly national accounts. The monthly version of the indicator lies outside the official statistics and is classified as statistics under construction.

“Swedish GDP grew in August following the weak development in July. The growth was relatively broad based and mainly driven by increased household consumption as well as rising production among goods producing industries", says Melker Pettersson Loberg, economist at Statistics Sweden.

For more information on developments in different parts of the economy, see:

• Household Consumption
• Production Value Index
• Trade in Goods

Balancing and revisions

In a first step, the GDP indicator calculates two separate GDP figures from the production and use side of the economy. Balancing is then carried out where one side is adjusted downward and the other upward to arrive at a single reconciled result. Before reconciliation, the statistical data in August showed an actual GDP development of 3.7 percent from the use side and a corresponding development of 3.2 percent from the production side, both compared with the corresponding month a year ago. In line with standard balancing procedures, this results in a reconciled actual GDP development of 3.5 percent.

August had the same number of working days compared to the corresponding month of the preceding year.

In accordance with revision policy for the GDP indicator, only months in the current quarter have been revised which means that July was revised in this publication.  

Additional information

Time series and revision history for the GDP indicator.

For more information about the indicator, see Compilation of the Swedish GDP indicator.