Posted on June 6, 2017

The economy in Sweden slowed at the start of the year as exports tried to maintain momentum, dulling a housing-fueled investment and consumption boom in the largest Nordic economy.

Gross domestic product in Sweden grew 0.4 percent in the first quarter and expanded an annual 2.2 percent, Statistics Sweden said.

The latest report showed that Swedish exports fell 0.2 percent in the first quarter, while imports surged 0.9 percent, subtracting from growth.

The decline in public support for the economy comes as the Social Democrat-led government, which is facing an election next year, is planning to use increasing surpluses to raise spending on police, health care and education. Unemployment has slid consistently since the coalition came to power.

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