Swedish govt sees smaller GDP drop this year, but slower rebound in 2021

Sweden's economy will contract less than previously expected this year, the government said in a forecast on Wednesday, but a second wave of the pandemic will crimp the recovery in 2021. Gross domestic product is seen falling 2.9% in 2020, the government said, better than the 4.6% contraction predicted in its September forecast.

However, the government cut its forecast for next year to show growth of 3.0% against its previous expectation of a rebound of 4.1%.