Sweden in recession, statistics agency says

Updated Saturday, November 29, 2008 10:46 am TWN, dpa

Sweden in recession, statistics agency says

STOCKHOLM -- Sweden has tipped into recession, Statistics Sweden said Friday. The gross domestic product (GDP) decreased by 0.1 percent during the third quarter, compared to the second quarter 2008. Year-on-year GDP was unchanged, according to the agency. The agency said household consumption expenditures also decreased, falling by 0.2 percent.

It was the first time since 2001 that household expenditures fell, the agency said.

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