Sweden's GDP slumped 9% in Q2, more sharply than its neighbours despite its no-lockdown policy
- Sweden’s GDP fell 8.6% during the second quarter of the year, according to its statistics body.
- The fall is sharper than its neighbours – Denmark registered a 7.4% fall, and Finland a 3.2% fall. Statistics suggest Norway also fared better than Sweden.
- Sweden decided not to pursue a nationwide lockdown, unlike most European nation. The statistics show this did not help its economy.
- Sweden has also seen much more widespread death from COVID-19 than nearby nations – though much of Europe is again registering an increase in cases.
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Sweden’s GDP fell more than its Nordic neighbours in the second quarter of 2020, dealing another blow to its lockdown-free coronavirus strategy.
Sweden’s official statistics agency said that Sweden’s GDP fell by 8.6% in Q2.
Norway’s GDP also appears to have fallen less than Sweden’s, though its measurements are out of sync with other nations. Its GDP fell 7.1% from March to May, a timeframe one month earlier.
Finland, Norway, and Denmark implemented lockdowns more in line with other nations, severely restricting the movement of people while closing schools and businesses.