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National accounts: Monthly GDP indicator, January 2023

GDP indicator increased in January

Statistical news from Statistics Sweden 2023-03-09 8.00

Sweden’s GDP increased by 2.0 percent in January, seasonally adjusted and compared with the previous month, as shown by the preliminary compilation of the GDP indicator.

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 economic activity bounced up January with growth in both exports of goods and household consumption happening in parallel with increasing general government production.” says Neda Shahbazi, economist at Statistics Sweden.

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

Monthly household consumption indicator
Trade in goods

In January, GDP was 2.0 percent higher, calendar-adjusted, than in the corresponding month a year ago. January had one additional working day compared with the corresponding month last year.

GDP, seasonally adjusted volume development and index (2021 = 100)

Graph: GDP, seasonally adjusted volume development and index (2021 = 100)

Balancing and revisions

In a first step, the GDP indicator calculates two separate GDP outcomes from the production and use side 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 January showed actual GDP development from the use side of 4.3 percent and corresponding development from the production side of 2.9 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of 3.6 percent.

In accordance with the revision policy of the GDP indicator, only months in the current quarter are revised.

GDP, non-adjusted non-benchmarked growth from the production and use side and reconciled results:
  Published 09/03/2023
  Production Use Reconciled
January 2.9 4.3 3.6

Additional information

Time series and revision history for the GDP indicator.

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

Next publishing will be

The GDP indicator for February 2023 will be published on 2023-04-06 at 08.00.

The ordinary calculation of the first quarter 2023 will be published 2023-05-30 at 08.00.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

Statistics Sweden, National Accounts

Solna strandväg 86
171 54 Solna


Neda Shahbazi, nationalekonom

+46 10 479 40 09

Mattias Kain Wyatt

+46 10-479 43 56