National accounts: Monthly GDP indicator, December 2025
GDP down in December
Statistical news from Statistics Sweden 2026-01-29 8.00
Swedish GDP contracted by 0.6 percent in December, seasonally adjusted and compared with the previous month, according to the preliminary compilation of the GDP indicator. For the fourth quarter as a whole GDP increased with 0.2 percent compared with the preceding quarter. Calendar adjusted GDP for December was 0.9 percent higher than in the corresponding month of the preceding year, while GDP for the quarter as a whole was 1.8 percent higher than in the fourth quarter of 2024.
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.
"Following strong figures for November Swedish economic activity contracted in the last month of the year. These results show us that the period of growth that we have seen since the second quarter largely continued through the remainder of 2025, if now at a somewhat more modest rate. Figures for all four quarters also give us a first preliminary estimate of annual GDP-growth for 2025 at 1.4 percent", says Mattias Kain Wyatt, economist at Statistics Sweden.
GDP, seasonally adjusted volume development and index (2024 = 100)
Balancing and revisions
In a first step, the GDP indicator calculates two separate GDP outcomes from the production and use sides of the economy. Then a reconciliation is made in which one side is adjusted downwards and the other side is adjusted upwards to arrive at a single final result. Before reconciliation, the statistical data in December showed actual GDP development from the use side of 1.7 percent and corresponding development from the production side of 3.5 percent, compared with the corresponding month a year ago. In line with standard balancing procedures, this results in a reconciled actual change in GDP of 2.6 percent. For the quarter as a whole, non-adjusted GDP development was 1.6 percent for the use side and 2.0 percent for the production side compared with the corresponding quarter a year ago. This resulted in actual GDP growth of 1.8 percent.
December had one additional working day compared to the corresponding month of the preceeding year while the fourth quarter as a whole had the same amount of working days as the same quarter of the preceeding year.
In accordance with the revision policy for the GDP indicator, only months in the current quarter have been revised.
GDP, actual development from the production and use side and reconciled results
| Published 29/01/2026 | Published 09/01/2026 | |||||
| Prod. | Use | Reconciled | Prod. | Use | Reconciled | |
| October | 2.1 | 2.2 | 2.2 | 2.3 | 2.0 | 2.2 |
| November | 0.5 | 0.7 | 0.6 | 0.9 | 1.5 | 1.2 |
| December | 3.5 | 1.7 | 2.6 | |||
| Fourth Quarter | 2.0 | 1.6 | 1.8 | |||
Additional information
Time series and revision history for the GDP indicator.
For more information about the indicator, see Compilation of the Swedish GDP indicator.