Sweden’s economic prospects have dimmed in recent months and the country will likely be surpassed by Norway as the fastest-growing Scandinavian economy in 2019, a Reuters poll found on Tuesday. It would be the first time in more than half a decade Sweden failed to top the region’s growth league, although it was still set to expand at a slightly faster pace than Denmark, the final member of the northern European trio. “Norway is on its way up after a weak period, while Sweden is facing the opposite development. Following a period of strong growth, Sweden is looking weaker as its main export markets are losing steam,” he added. While Sweden is expected to expand 2.6% in 2018, its growth rate is forecast to drop to 2% next year, the lowest since 2013 and lagging the 2.2% seen for Norway, while Denmark at 1.9% will be a close third. As a major producer of oil and gas, the Norwegian economy slumped following the 2014 crash in energy prices, but has since picked up speed as the price of crude gradually recovered.
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