STOCKHOLM (dpa-AFX) - Sweden's economic growth moderated less than expected in the third quarter, preliminary data from Statistics Sweden showed on Thursday.
Gross domestic product rose 0.4 percent sequentially in the third quarter, following a 1.6 percent rebound in the second quarter. Meanwhile, economists were expecting a 0.3 percent decrease.
Compared to last year, GDP growth slowed to 2.8 percent from 3.3 percent in the June quarter.
During September, the Swedish economy contracted 0.7 percent monthly versus a 1.2 percent expansion in August. The annual growth eased to 2.1 percent from 3.6 percent.
Separate official data showed that the volume of retail sales fell 0.4 percent monthly in September, reversing a 0.9 percent rise in August. Sales of durables decreased 0.9 percent, while those of consumables remained flat. The annual growth in retail sales slowed to 2.1 percent from 3.6 percent.
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