NewsMV
Sweden's working-day adjusted GDP indicator for the second quarter rose 2.8% year-over-year, up from the previous reading of 1.6%.
The print marks a clear acceleration in Swedish output and puts the data in focus for macro participants with exposure to the Swedish economy.
The print Working-day adjustment removes distortions that surface in year-over-year comparisons when two periods differ in their count of business days.
Calendar composition, specifically how many weekdays and holidays fall into a given quarter relative to the same quarter a year earlier, can inject noise into raw output figures.
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