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Financial News: Sweden Industrial Production Declines In April

Sweden Industrial Production Declines In April

06/04/2020 - 07:47:00 (RTTNews)

(RTTNews) - Sweden's industrial production decreased for the first time in four months in April, data from Statistics Sweden showed on Thursday.

Industrial production fell a calendar-adjusted 16.6 percent year-on-year in April, after a 0.1 percent rise in March, which was revised from a 0.1 percent fall.

Construction output declined 1.5 percent annually in April, while services output fell 8.2 percent.

On a month-on-month basis, industrial production decreased 15.9 percent in April, following a 1.1 percent fall in the prior month.

The overall private sector output fell 9.0 percent year-on-year in April and declined 6.5 percent from the previous month.

The largest negative contribution to total private sector development came from the motor vehicle industry in April, the agency said.

Separate data from the statistical office revealed that industrial orders fell a calendar adjusted 20.7 percent annually in April.

Orders received from the domestic market decreased 13.7 percent in April, and those from foreign markets fell 25.9 percent.

On a month-on-month basis, industrial orders dropped a seasonally adjusted 13.9 percent in April.

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