The US economy shows improvement and a cautiously positive outlook after a destructive 2020 due to Covid-19. The pandemic sparked a recession that shrunk the US economy a record 31.4 per cent in the second quarter of 2020. But economists expect US GDP growth to remain strong the next few quarters, growth will soon peak as the tailwinds from fiscal stimulus and economic reopening reach their maximum impact.
Looking ahead to the coming 12 months, Swedish company respondents are optimistic about turnover in their respective industries. Of those surveyed, 80 per cent expect their industry’s turnover to increase in the next year. The Biden Administration aims to transition the US towards a more sustainable future with a $2 trillion USD bill, which includes extensive investments into transportation and electromobility, grid and transmission infrastructure as well as renewable energy. With Sweden being a strong leader in many of these sectors, Swedish companies can take advantage of these investment opportunities in the market.
The “Swedish brand” is positively contributing to companies’ value proposition. A growing attitude appears to be taking root in corporate America: what's good for the environment can also be good for business. Swedish companies operating in the US find their customer base to be increasingly driven by sustainability considerations.
The Business Climate Survey is a tool used by Team Sweden to map the opportunities and challenges Swedish companies face when doing business across the world.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
This survey observes how Swedish companies operating in the US perceive the market conditions and the economic prospects of their businesses, as well as if and how the views diverge across company type. More than 800 Swedish companies were contacted to partake in the 2021 Business Climate survey, where the answers were collected during March and April 2021. Interviews were conducted simultaneously with selected companies for a deeper understanding of the factors driving their responses.