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Financial News: Sweden Industrial Production Growth Slows In August

Sweden Industrial Production Growth Slows In August

10/08/2019 - 08:51:00 (RTTNews)

(RTTNews) - Sweden's industrial production growth slowed in August after rising in the previous month, data from Statistics Sweden showed on Tuesday.

Industrial production climbed 2.5 percent year-on-year in August, after a 3.1 percent rise in July, which was revised from 3.2 percent. In June, production rose 1.3 percent.

Manufacturing output rose 2.1 percent annually in August after a 3.1 percent in the previous month.

Output in the mining and querying industry grew 13.5 percent August and those of water supply and electricity, gas, steam and hot water rose by 9.2 percent and 4.6 percent, respectively.

On a monthly basis, industrial production remained unchanged in August, after a 1.3 percent rise in the preceding month.

Separate data from Statistics Sweden showed that the industrial orders fell 1.1 percent year-on-year in August.

Orders received from the domestic market declined 1.1 percent and those from the foreign market decreased 0.9 percent.

On a month-on-month basis, industrial orders fell 1.8 percent in August.

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