Sweden's economy returned to its pre-pandemic level in the first quarter as the recovery in the largest Nordic economy is outpacing most of its wealthy peers. The gross domestic product was unchanged in the first quarter from the year-earlier level, on a calendar-adjusted basis, according to the Stockholm-based statistics office. Like the rest of the Nordic region, Sweden has weathered the Covid crisis better than most thanks in large part to generous welfare systems and widespread digitalization that made working from home easier. Even as the 14-day infection rate is the highest in Europe, according to WHO, the government plans to go ahead with a gradual softening of Covid-restrictions starting next month. "Sweden is closing in at its pre-virus peak of activity quicker than most European countries, helped by a rebound in consumption and strong export growth. Data released on Thursday also showed overall confidence levels in the economy surged to an all-time high in April, in a surprise to economists.
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