Sweden Industrial Production Rises For Second Month

sweden-industrial-production-rises-for-second-month

Sweden’s industrial production expanded for the second straight month in August, though at a slower pace than in the previous month, data from Statistics Sweden showed on Thursday.

Industrial production climbed a calendar-adjusted 2.1 percent year-over-year in August, well below the 7.3 percent rebound in July.

The latest upward trend was driven primarily by the chemical and pharmaceutical industry, which grew 25.6 percent from the previous year.

Services growth, excluding financial and insurance services, rose 4.6 percent in August, following a 4.3 percent increase in July.

Meanwhile, construction output rebounded 4.6 percent annually in August, after falling 4.0 percent in the prior month.

Separate data from the statistical office showed that industrial orders dropped 0.6 percent annually in July, in contrast to a revised 4.2 percent rise in the previous month, which was the first increase in three months.

Domestic demand fell 7.4 percent, while foreign orders increased 4.4 percent.

On a monthly basis, industrial orders declined a seasonally adjusted 4.2 percent in August.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Related Articles

Responses

Your email address will not be published. Required fields are marked *