Stockholm shows a strong third quarter. The growth rate of the private sector reaches its highest level since 2010 and the wages continue to increase. Population and housing construction are also rising. These are the results of the latest Stockholm economy report.
Sales in the private sector increased during the third quarter of 2013 by 4 percent in the county and 10 percent in the city, compared with the preceding quarter. Sales increased by 3 percent in the rest of the country.
“Stockholm continues to perform well with strong sales growth. It is particularly pleasing that employment is rising while the number of bankruptcies is hitting its lowest point in several years,” says Mr Olof Zetterberg, CEO of Stockholm Business Region.
The labor market in Stockholm continues moving forward: employment and the number of available jobs are both increasing. At the same time, unemployment is rising due to the high rate of immigration to the region. Employment in the county rose by 2.2 percent, and in the city by 4.7 percent, compared with the country as a whole at 0.7 percent.
During the quarter, construction of 1,991 apartments began, 1,154 of which are in the City of Stockholm. That corresponds to an increase of almost 30 percent in both the city and the county compared with the same quarter last year, which represents an increase of 5 percent in the rest of the country.
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Stockholmskonjunkturen economy report
Stockholm Business Region monitors growth in Stockholm city and county in the Stockholmskonjunkturen statistical report, which is issued four times per year. www.stockholmbusinessregion.se/stockholmskonjunkturen
Stockholm Business Region, with its subsidiaries Stockholm Business Region Development and Stockholm Visitors Board, is the official investment and tourism promotion agency for the Stockholm region. Stockholm is one of Europe’s most dynamic sustainable regions. Stockholm Business Region is fully owned by the City of Stockholm. Our common brand is Stockholm – The Capital of Scandinavia.