Sweden in recession as 3Q GDP falls

Sweden in recession as 3Q GDP falls

Sweden has slipped into recession as the economy shrank for the second consecutive quarter, the Scandinavian country’s statistics agency said Friday.

Statistics Sweden said seasonally adjusted gross domestic product fell 0.1 percent in the third quarter, compared to the previous quarter. GDP also fell 0.1 percent in the second quarter, the agency said.

The technical definition of recession is at least two consecutive quarters of negative economic growth.

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