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






More artists confirmed for Way Out West


With only one week to go more and more great artists are being added to the Way Out West line-up.

The event organisers...

More

Imprisoned Swedish man released in Ukraine


The Swedish man who was captured by pro-Russian separatists in Ukraine has now been released. He is reported...

More

C1

AstraZeneca to buy Spanish company


Public broadcaster P4 Göteborg reported that pharmaceutical company AstraZeneca, which has operations in...

More

Underage addict missing: social workers get the blame


A minor was found during a police raid of an apartment known for substance abuse in Backa, but was driven...

More

C2

GU research to improve treatment of paediatric cancer


Research at the Sahlgrenska Academy at the University of Gothenburg could lead to a more effective treatment...

More

Prison for plane bomb threat


According to Göteborgs-Posten the Russian man who threatened to bomb a plane, which was forced to land...

More

Temperatures return to normal this week


Get out and make the most of the sunshine before we see the end of the record high temperatures.

...

More

35 million kronor worth of cocaine seized


Two people have been accused of handling large quantities of unusually strong cocaine.

On Monday July 28 a...

More

Big brother threatened playgroup leader at gunpoint


A 19-year-old playgroup leader was struck in the face and threatened with a gun by a big brother to one of...

More

After-party on the avenue with Snoop Lion


Hip hop legend Snoop Lion, formerly known as Snoop Dogg, will soon be landing in Gothenburg, the only Swedish...

More

Eid al-Fitr celebrations begin


Today many celebrate the end of Ramadan with Eid al-Fitr; the Muslim holiday which celebrates the end of the...

More

15 million kronor to help Partille schools and cover deficit


Since the decline in student performance and a negative report from the Swedish Schools Inspectorate last...

More

Police shortage: officers work overtime


The Gothenburg police force are suffering record low numbers of staff.

The police may give priority to...

More

What's on this weekend


July 25 to 27. A few tips and ideas to spice up your weekend.

Wrong Island Root Festival
A two-day music...

More

Sharp-ended pipe found under local diving platform


A sharp pointed iron pipe was discovered on Thursday in the water below a diving board in a swimming area in...

More

Skateboarders compete in Slottsskogen

Image:Mikael Miettinen/Flickr (CC BY 2.0)

Today marks the start of the 2014 Skateland European longboard, bordercross and slalom championships taking...

More

More acts booked for Culture Festival


Gothenburg Culture Festival will now host even more acts for the celebration on August 12.

Jasmine Kara,...

More

Extreme heat weather warning

Image: mickeyvdo/Flickr (CC BY 2.0).

A class 1 weather warning has been issued for Västra Götaland with predicted temperatures reaching...

More
More articles (for front page)

'Road pirates' at work in Gothenburg

Suspect released in gang murder case

Emergency services put family on hold

Man receives a 2,000 krona fee for one hours parking

More festival tickets on sale for Clandestino Botnik

Man from West Sweden missing in Ukraine

Staff shortage for 200 new restaurant jobs

Man facing deportation tried to escape

New Way Out West web series

Gothia Cup leader released


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


Search          Search help

Tip the editor