Swedish Economy Surpasses Expectations With 0.9% GDP Growth in November 2025

Sweden's economy showed a robust recovery in November 2025, with Gross Domestic Product (GDP) rising by 0.9% compared to the previous month, according to preliminary data from Statistics Sweden (SCB). This increase outpaced economists' predictions, which had expected growth of just 0.2%, signaling a strong turnaround after two months of decline.

Year-on-year, Sweden's GDP was 2.7% higher, although the data accounts for a calendar adjustment noting that November 2025 contained one less working day than November 2024. The overall trend remains positive, reflecting a strengthening economy.

The principal driver of this growth was the services sector, including consulting and healthcare, which offset weaker performances in other areas. Notably, the industrial sector experienced a slight contraction, with production falling 0.1% from October to November. The Production Value Index also reflected a 0.5% increase in overall production compared to October, translating to a 3.5% rise when adjusted for calendar effects annually.

Economists at SCB, including Asuman Erenel, emphasized that the gains in service industries were crucial in balancing declines among goods producers and public authorities. Mattias Kain Wyatt, another SCB economist, pointed out that while the industrial sector has remained more stable, it did not show the same upward momentum as services.

SCB also revised its October data to ensure high statistical quality, which reaffirmed the positive trajectory of Sweden’s economy heading into the end of 2025.