Part 2/9:
Sweden's economy encountered a steep decline in GDP during late 2022, eventually slipping into a recession in 2023. During this period, GDP contracted by 0.2%, making it one of the hardest-hit economies in Europe, especially when compared to the EU average, which experienced a small growth of 0.2% in the same timeframe. Following these hardships, Sweden began to recover, but the year-on-year growth was modest, with only a 0.4% increase reported in the second quarter of 2024.