1208 GMT - The Swedish economy ended 2024 with a strong quarter, as the series of Riksbank rate cuts are feeding through to the real economy more and more, HSBC economist Anja Sabine Heimann writes. The uptick in construction was a welcome sight, as was private demand expanding for two consecutive quarters, Heimann says. "Conditions are in place for the recovery to continue, albeit it might prove bumpy." Consumers are also making a comeback, although they remain gloomy based on sentiment surveys. For the Riksbank, the fourth quarter GDP print came as an upward surprise and a rate cut at the March meeting remains clearly off the table. HSBC still expects a final cut in May, bringing the policy rate down to 2.00%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 07:08 ET (12:08 GMT)
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