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Financial News: Sweden Industrial Output Growth Weakest In 5 Months

Sweden Industrial Output Growth Weakest In 5 Months

11/06/2017 - 05:47:00 (RTTNews)

(RTTNews) - Sweden's industrial production growth eased in September to the lowest level in five months, figures from Statistics Sweden showed Monday.

Industrial production rose a calendar-adjusted 3.6 percent year-over-year in September, much slower than the 7.7 percent spike in August. The measure has been rising since September 2016.

Moreover, the latest rate of increase was the slowest since April, when production had risen 1.1 percent.

During the third quarter, industrial production advanced 5.1 percent compared with the same period last year.

On a monthly basis, industrial production rose 2.4 percent from August, when it fell by 1.1 percent.

Another report from the statistical office showed that orders for industry surged 11.2 percent yearly in September, well above the 6.1 percent gain in the prior month.

Monthly, orders rebounded strongly by 4.7 percent after a 2.1 percent decline in August.

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