Logo 468


Advertisement:

Job section - 468

Euro crisis impact smaller than predicted


Linda Genborg 2012-03-23

The initial worry has passed. The Euro crisis did not affect the export dependent business sector in West Sweden as bad as was first feared, according to a new report from Svenskt Näringsliv.

There was a down-turn in both production and employment in the end of 2011 and the start of 2012, but it has since levelled out and optimism is returning. At least according to Svenskt Näringsliv's survey and company panel, which includes 1,100 West Swedish companies.

The prognosis is still that the GDP growth of the country will be close to zero during all of 2012, and employment will decline. However, the prognosis for 2013 is slightly brighter.
 
Last autumn Svenskt Näringsliv warned of a wave of inflation caused by the debt crisis in Europe and warned that the Euro collaboration was hanging on a thread. This would be a big blow to Swedish export.

The problems are still there; the debt crisis in southern Europe, the prices of oil and other raw materials have soared and the central banks in the US and within EMU have printed a lot of money in order to maintain growth. But things have not turned as bad as predicted.

"I miscalculated the European politicians' and the ECB's power to act last autumn. But they have pumped out money because they didn't dare anything else," says analyst Göran Grahn at Svenskt Näringsliv, to Göteborgs-Posten (GP).

That the initial worry has passed can also be seen among the west Swedish companies. They are slightly more positive than the national average, and believe in increased employment.

"The crisis indications last autumn never materialized in any form of staff cut-backs. Some sectors of the business life have had less to do, but it never affected the employment," says Kenneth Krantz, regional manager at Svenskt Näringsliv, to GP.

Post comment     Tip a friend     Print






All Saints' Day

All Saints' Day at the cemetery Storkyrkogården in Stockholm.

This Saturday, November 1, is All Saints' Day in Sweden. Traditionally, a celebration of all Christian saints, the...

More

Man charged with manslaughter in Majorna


Gothenburg District Court sentenced a 38-year-old man to seven and a half years in prison for the...

More

C1

Police Chief speaks at gang trial


The ongoing trial involving the Bergsjön gang continues today with a testimonial from the county police...

More

Footballer Klas Ingesson loses his battle with cancer


Swedish footballer and manager at IF Elfsborg, Klas Ingesson, died yesterday from Multiple myeloma, a plasma...

More

Only organic meat in Gothenburg


From November 1 Gothenburg will aim to only serve organic meat in city-run establishments such as preschools...

More

Gothenburg invests in life sciences

Pam Fredman (left) and Peter Wallenberg Jr (right) announcing the new research centre at the University of Gothenburg

A new centre for molecular medicine with funding of at least 620 million kronor will be created at the...

More

New project to fast track refugee doctors


Region Västra Götaland is investing in a new project designed to teach asylum-seeking doctors...

More

Sweden fourth best for gender equality

<span>Sweden is one of the world leaders in gender equality. </span>

Sweden continues to be the fourth most gender-equal society in the world, suggests the Global Gender Gap...

More

Floods damaged roads and bridges


The heavy rains and floods that hit West Sweden in late-August have caused millions of kronor worth of...

More

Västtrafik sent out wrong letter

Thousands mislead. Västtrafik is withdrawing the free two-week trial it offered to some 17,000 people, as the wrong letter...

More

Gbg student wins Dawit Isaak award


Gothenburg student and journalist Afrah Nasser from Yemen has won the Publicist Club’s Dawit Isaak...

More

Music: five things to do in week 44


Live music, DJs and other happenings of the indie/alternative variety.

29.10.14

Beatrice Eli

What?
Beatrice Eli....

More

Track work affects tram services


Tram commuters in eastern Gothenburg can expect disruptions over the next week after track work at...

More

Repo rate cut to zero



Sweden’s central bank, the Riksbank, cut the repo rate to a record low zero per cent on Tuesday as...

More

Elderly woman raped and killed


A man in his 70s is in police custody in Gothenburg on suspicions of causing another's death. The victim, a...

More

Researchers grow new blood vessel in a week

Professors Michael Olausson and Suchitra Sumitran-Holgersson at the University of Gothenburg's Sahlgrenska Academy

Gothenburg researchers made a medical breakthrough when they grew a new blood vessel from stem cells in just...

More

Hooligans clash in Gothenburg


Around 40 people were apprehended after hooligan clashes in Gothenburg on Saturday.

The first incident...

More

City Airport up for sale


Gothenburg’s second largest airport, Göteborg City Airport, has been put on the market, reports...

More
More articles (for front page)

Göran Johansson dies

10 innovations you didn’t know were Swedish

10 practical tips when you've moved to Sweden

Change your clocks!

Student teachers worry for their reputation

New report links argicultural trade to deforestation

Government budget proposal unveiled

What's on this weekend

Diwali celebrations begin

Bergsjön Gang at Gothenburg District Court


Main partners:

Main Partners (uni collaboration)

Social media:

Linda's twitter logo 2

Facebook






BRG Expat Guide



Advertisements:

Business Region Göteborg

Nordstan D

Most read