Stockholm Chamber of Commerce - The Stockholm Economy Falls To Its Lowest Level In Five Years

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The Stockholm Economy Falls To Its Lowest Level In Five Years

Especially hit by a lower growth is the IT and computer sector.

- As seen to this quarter, we no longer are in an economic boom. Growth is not at its lowest level in five years and in only six months the IT- and computer sector in Stockholm went from a top performer to a degree weaker than normal. I fear that the weakening in part is due to the record high labor shortage, Andreas Hatzigeorgiou, Chief economist at the Stockholm Chamber, says.

After a period of strong growth, the Stockholm economy now falls during the first quarter of 2018. The economy of Stockholm is weakened, and falls to a level of normality. The Stockholm Barometer is weakened by around four units to slightly above 99, meaning that the economy of Stockholm is at its lowest point since 2013.

- When Stockholm shifts its gears down, it could affect the whole of the Swedish economy. Politicians must provide answers on how to deal with bottlenecks that hurts growth. The labor shortage must be solved by allowing better conditions to recruit global talents but also efforts to improve matching on the labor market. The improvement of the housing market and infrastructure is a pre-condition to succeed, Andreas Hatzigeorgiou explains.