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Financial News: Sweden Industrial Production Grows In August

Sweden Industrial Production Grows In August

10/06/2020 - 08:19:00 (RTTNews)

(RTTNews) - Sweden's industrial production grew in August, data from Statistics Sweden showed on Tuesday.

Industrial production rose a calendar-adjusted 0.2 percent year-on-year in August, following a 6.5 percent decline in July.

The overall private sector output fell 3.9 percent year-on-year in August, following a 4.4 percent decrease in the previous month.

The largest upward contribution to total private sector development came from the chemical and pharmaceuticals industry by 30.2 percent year-on-year and contributed 0.7 percentage points.

Services output fell 5.5 percent yearly in August.

On a month-on-month basis, industrial production increased 7.0 percent in August, after a 3.6 percent rise in the prior month.

The total private sector output rose 1.2 percent from the previous month.

Manufacturing output rose 7.9 percent monthly in August, following a 3.0 percent increase in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders remained unchanged annually in August.

Orders received from the domestic market decreased 3.9 percent in August, while those from foreign markets rose 3.3 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 5.6 percent in August.

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