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Financial News: Sweden Industrial Production Accelerates In February

Sweden Industrial Production Accelerates In February

04/08/2021 - 04:52:00 (RTTNews)

(RTTNews) - Sweden's industrial production increased in February, data from Statistics Sweden showed on Thursday.

Industrial production grew a calendar-adjusted 2.4 percent year-on-year in February, following a 0.7 percent rise in January.

The overall private sector output fell 1.2 percent yearly in February, following a 3.0 percent decrease in the previous month.

The largest upward contribution to total private sector development came from motor vehicle industry, by 7.4 percent year-on-year in February.

Services output fell 3.1 percent annually in February and construction output gained 5.8 percent.

On a month-on-month basis, industrial production increased 1.0 percent in February, after a 1.9 percent fall in the prior month.

The total private sector output rose 001 percent from the previous month.

Manufacturing output increased 0.7 percent monthly in February, after a 1.7 percent decrease in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 5.3 annually in February.

Orders received from the domestic market decreased 0.6 percent in February, while those from foreign markets rose 9.6 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 0.3 percent in February.

Another data from Statistics Sweden showed that the household consumption increased a seasonally adjusted 2.0 percent monthly in February.

On an annual basis, household consumption declined 1.9 percent in February.

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