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Stockholm Economy: Report shows positive growth in Stockholm

Press release   •   Sep 26, 2018 05:00 UTC

Photo: Yanan Li, mediabank.visitstockholm.com

The Stockholm economy is still in a boom the second quarter of 2018, but shows signs of cooling off in comparison to the same period in 2017. The economy and the population grow, but business is going downwards and construction of housing projects has decreased from last year’s strong figures.

Aggregated gross pay data showed positive growth figures both for Stockholm County and the City of Stockholm compared to the same quarter in 2017. Information and communication where the driving force behind this development. 

"We can look back on a mandate period of strong growth and Stockholm continues to be Sweden's economic engine. The city is continuing to grow, and residential construction is crucial to meeting the needs of a growing business community," says the Mayor of Stockholm, Karin Wanngård (S).

The labour market in Stockholm remains strong. During the last four quarters the number of persons employed increased by 28 500. Employment in healthcare, construction and finance did however decrease. The number of people given notice increased in both the county and the city. The unemployment rate remained unchanged in the county and decreased marginally in the city. The number of newly registered businesses decreased and the number of company bankruptcies increased.

Population in the county and the city increased by 37 700 and 13 000 respectively during the last four quarters, representing increases by 1,6 percent and 1,4 percent. The number of housing projects started decreased substantially in both the county and the city in comparison to the same quarter last year. 

"We are pleased to see continued strong growth in Stockholm, with increased employment rate and gross pay data. On the other hand, the increase in the number of people given notice and the decrease in the building pace may be signs of a slowdown," says Anna Gissler, Acting CEO of Stockholm Business Region.

About the report

The report is published by Stockholm Business Region four times per year. The report covers Stockholm County and the City of Stockholm. Statistics are based on information from Statistics Sweden, the Swedish Public Employment Service and the Swedish Companies Registration Office.

For questions, contact Stefan Frid, Invest Stockholm, stefan.frid@stockholm.se, +46 (0) 8 508 28 016

About Invest Stockholm

Invest Stockholm is the official investment promotion agency of Stockholm. We work with the marketing and development of the Stockholm region as a business destination under the brand Stockholm – The Capital of Scandinavia. Invest Stockholm is a subsidiary of Stockholm Business Region, owned by the city of Stockholm.

www.investstockholm.com