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Financial News: Sweden Industrial Production Growth Eases Less Than Expect

Sweden Industrial Production Growth Eases Less Than Expected

05/05/2017 - 05:35:00 (RTTNews)

(RTTNews) - Sweden's industrial production growth eased at a slower-than-expected pace in March, preliminary figures from Statistics Sweden showed Friday.

Industrial production climbed a calendar-adjusted 3.8 percent year-over-year in March, slower than the 4.3 percent rise in February. Economists had expected the growth to moderate to 3.4 percent.

The measure has been rising since September 2016.

Among sectors, the strongest increase came from the industry for other non-metallic mineral products, by 12.2 percent. Manufacturing production grew 3.7 percent and mining and quarrying output expanded by 9.2 percent.

Month-on-month, industrial production rose a seasonally adjusted 0.3 percent from February, when it increased by 0.5 percent. It was expected to climb by 0.6 percent.

Another report from the statistical office showed that orders for industry surged 13.4 percent annually in March, faster than the 11.9 percent spike in February. Monthly, orders grew at a weaker pace of 2.3 percent in March, after a 8.3 percent gain in the preceding month.

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