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.

“The Swedish economy saw a minor contraction in May, weighed down by lower output in service producing industries and general government. Seen from the use side of the economy the downturn was explained among other factors by lower figures for household consumption and a weakening of net exports concerning goods", says Mattias Kain Wyatt, economist at Statistics Sweden.

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

• Monthly Household Consumption Indicator
• Production Value Index
• Trade in Goods

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 May showed actual GDP development from the use side of -1.0 percent and corresponding development from the production side of -1.0 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of -1.0 percent.

May had one working day less than the corresponding month last year.

In accordance with revision policy for the GDP indicator, only months in the current quarter have been revised. 

Additional information

Time series and revision history for the GDP indicator.

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