Monday, March 1, 2010

Sweden in Double Dip Recession

Sweden's economy slid back into recession in the fourth quarter, figures showed on Monday, reports Reuters.

Gross domestic product contracted 0.6 percent in the fourth quarter from the third.

The third-quarter GDP figure was revised to show a 0.1 percent quarterly decline from an original 0.2 percent gain, the statistics office said. This meant the economy fell back into recession, based on the rough rule of thumb of two consecutive quarters of declining GDP.

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