May 19, 2020 / 7:22 AM / 18 days ago

Swedish firms see big revenue falls in May due to pandemic - NIER survey

STOCKHOLM, May 19 (Reuters) - Swedish businesses have been hard hit by the outbreak of the novel coronavirus with almost 15% of industrial firms seeing revenues down by more than half compared to normal so far in May, a survey by a leading think tank showed on Tuesday. In the service sector, one in 10 companies has seen its revenues down by more than 75% in the first two weeks of May compared to normal levels, the survey by the National Institute for Economic Research showed.

In the hotel and restaurant trade, half of the companies surveyed said revenues were down by more than 75%. (Reporting by Simon Johnson; editing by Johannes Hellstrom)

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