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Swedish economic recovery is set to continue in the third quarter as the relaxation in pandemic restrictions boost household consumption, the National Institute of Economic Research, or NIER, said in its economic update, published on Wednesday.

Gross domestic product is forecast to grow 4.4 percent in 2021 and 3.6 percent in 2022. The outlook for 2021 was left unchanged, while the projection for 2022 was lifted from 3.5 percent.

The think tank said “Eased pandemic restrictions contribute to households increasing consumption significantly in the third quarter, and the economy then makes a shot of joy.”

“Thereafter, the recovery enters a calmer phase,” the NIER said.


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