Demand and sales change caused by the coronavirus in Sweden 2020

The coronavirus has mostly negatively affected the demand and sales of Swedish companies during spring and summer 2020. The virus was first detected in China in late December 2019, and in Sweden at the beginning of February 2020, but the impact on the economy was perceived only later. According to a survey conducted over different time periods during spring and summer, April showed the largest share of companies that experienced a decline in demand and sales for their products.

 Coronavirus impact on the Swedish economy 

   At the beginning of the year, Growth forecasts for the Swedish economy for 2020 were positive. Figures, however, were adjusted due to the new scenario as the year passed on. In January 2020, a growth rate of 1.1 percent was forecast. Then, according to forecasts published in June, the Swedish gross domestic product was expected to register a negative growth rate of six percent.

 Employment forecasts

   Employment forecasts followed the same pattern as the ones for the economic growth. According to forecasts presented in January 2020, the change in employment was expected to grow, even though at a low rate. Then, forecasts published in June predicted a decrease of 2.6 percent.