Via The Swedish Wire:
Bloomberg said household spending is helping Nordic economies weather weak export demand as the euro area suffers through a second year of recession.
“Resilient” consumers helped Sweden avoid a recession last year and domestic demand remains the “main growth driver” in Finland, according to a European Union report, the newswire said. “Exports are expected to pick up in the second half of 2013 when growth in Swedish export markets is projected to resume”.
Sweden’s economy will expand 1.3 percent this year and 2.7 percent in 2014 after growing 1 percent in 2012, according to E.U. forecast.