April 1, 2020 / 7:31 AM / 2 months ago

Swedish GDP to plunge 6% in Q2, 3.2% in 2020 - NIER think-tank

STOCKHOLM, April 1 (Reuters) - Sweden’s economy will contract a bit over 6% in the second quarter and 3.2% in 2020, hit by the effects of the coronavirus pandemic, before rebounding in 2021, the National Institute of Economic Research said in a forecast on Wednesday.

“Economic policy is already adopting a strongly supportive role,” the NIER said in a statement. “The NIER believes that this is an appropriate focus, but that more action than what has been decided or announced to date will be needed to stem the rise in unemployment.”

The economy is expected to rebound and grow 3.5% in 2021, the NIER said. (Reporting by Simon Johnson; editing by Johannes Hellstrom)

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