Swedish growth
Expert: "We don't see a clear turnaround in the economy"
This morning's GDP figure was better than expected, but does not mean that the Swedish economy can soon put the recession behind it. That's what Länsförsäkringar's chief economist Alexandra Stråberg thinks, according to TT.
- We don't see a clear turnaround so far, she says and points to a weaker labor market as one of the reasons.
Handelsbanken gives a more positive picture and emphasizes that overall GDP growth has grown during the first half of the year.
"We expect lower inflation and a clear shift in monetary policy with falling interest rates and fiscal stimulus from the government, which will pave the way for a recovery later this year," the bank writes in a comment.
Expert: "We don't see a clear turnaround in the economy"
This morning's GDP figure was better than expected, but does not mean that the Swedish economy can soon put the recession behind it. That's what Länsförsäkringar's chief economist Alexandra Stråberg thinks, according to TT.
- We don't see a clear turnaround so far, she says and points to a weaker labor market as one of the reasons.
Handelsbanken gives a more positive picture and emphasizes that overall GDP growth has grown during the first half of the year.
"We expect lower inflation and a clear shift in monetary policy with falling interest rates and fiscal stimulus from the government, which will pave the way for a recovery later this year," the bank writes in a comment.
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Swedish GDP declines less than expected
Sweden's GDP decreased by 0.3 percent in the second quarter, seasonally adjusted and compared to the previous quarter, according to Statistics Sweden. The figure was a better-than-expected 0.6 percent down, according to Infront's estimate, and was still slightly better than what the GDP indicator showed at the end of July.
- GDP fell slightly during the second quarter of the year. The downturn in the economy was broad, but was sustained by foreign trade in goods, where exports increased and imports decreased, says Jessica Engdahl, who is section manager at the National Accounts.
The decline is mainly due to inventory investments, which reduced GDP by 0.6 percentage points. Household consumption also decreased, while public consumption rose slightly.
Calendar-corrected and annualized, GDP increased by 0.5 percent in the quarter. An increase of 0.2 percent was expected.
Sweden's GDP decreased by 0.3 percent in the second quarter, seasonally adjusted and compared to the previous quarter, according to Statistics Sweden. The figure was a better-than-expected 0.6 percent down, according to Infront's estimate, and was still slightly better than what the GDP indicator showed at the end of July.
- GDP fell slightly during the second quarter of the year. The downturn in the economy was broad, but was sustained by foreign trade in goods, where exports increased and imports decreased, says Jessica Engdahl, who is section manager at the National Accounts.
The decline is mainly due to inventory investments, which reduced GDP by 0.6 percentage points. Household consumption also decreased, while public consumption rose slightly.
Calendar-corrected and annualized, GDP increased by 0.5 percent in the quarter. An increase of 0.2 percent was expected.
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The development of AI
Data: Nvidia Considers Backing Open AI
Nvidia has held talks with Open AI about participating in a new funding round, writes Bloomberg, citing sources. Yesterday, the WSJ reported that Open AI was about to raise capital that would value the company at the equivalent of SEK 1,000 billion.
Microsoft and Apple have also shown interest in the new funding round, writes Bloomberg. None of the companies have commented on the data.
The development of AI
Data: Nvidia Considers Backing Open AI
Nvidia has held talks with Open AI about participating in a new funding round, writes Bloomberg, citing sources. Yesterday, the WSJ reported that Open AI was about to raise capital that would value the company at the equivalent of SEK 1,000 billion.
Microsoft and Apple have also shown interest in the new funding round, writes Bloomberg. None of the companies have commented on the data.
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After the report: $236 billion up in smoke
Chip giant Nvidia is down around 7 percent in aftermarket trading after Wednesday's partial year.
The report exceeded expectations on both results and outlook, but nevertheless looks set to open clearly lower later today. With a valuation above 3,000 billion dollars before the report, it indicates that values of 236 billion dollars have gone up in smoke, writes Reuters.
IG analyst Tony Sycamore notes that it has become increasingly difficult for Nvidia to keep pace with lofty expectations, after the company rallied to the stock market and beat expectations in 14 of the past 15 quarters.
Chip giant Nvidia is down around 7 percent in aftermarket trading after Wednesday's partial year.
The report exceeded expectations on both results and outlook, but nevertheless looks set to open clearly lower later today. With a valuation above 3,000 billion dollars before the report, it indicates that values of 236 billion dollars have gone up in smoke, writes Reuters.
IG analyst Tony Sycamore notes that it has become increasingly difficult for Nvidia to keep pace with lofty expectations, after the company rallied to the stock market and beat expectations in 14 of the past 15 quarters.
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