Sweden fails to recover
The economy in Sweden performed worse than expected in the last quarter of 2009; economists had been predicting that the economy would begin to expand after the recession at the end of last year, but GDP actually shrank 0.6 per cent. Exports, which account for more than 50% of the country’s economy, were particularly weak, making companies in the freight and logistics sector vulnerable to shrinking turnover and profitability. The other Nordic countries of Denmark, Norway and Finland also announced disappointing figures.