UPDATE 2-Swedish finance minister cuts 2020 growth outlook due to coronavirus [Reuters]
SWEDBANK AB S/ADR (SWDBY)
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Source: Reuters
UPDATE 2-Swedish finance minister cuts 2020 growth outlook due to coronavirus * Fin Min says coronavirus to knock 0.3 pct pts off GDP this year * Previous forecast was for 1.1% growth in 2020 * Says effect could be bigger if outbreak longer, more widespread * Riksbank seen unlikely to cut rates due to lower growth (Adds analyst comment, background, graphs) STOCKHOLM, March 4 (Reuters) - The coronavirus outbreak will lower Swedish growth this year by around 0.3 percentage points, Finance Minister Magdalena Andersson said on Wednesday, adding the impact could be greater if the outbreak is longer lasting or more widespread than currently expected. Around 3,000 people have died as a result of catching the virus, mainly in China, where a widespread shutdown across parts of the country has hit supply chains and production for many western firms. Andersson said that the effects if the virus on Sweden’s economy had so far been limited, but that it would nevertheless reduce growth this year. “
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