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Financial News: Sweden Industrial Production Growth Eases In May

Sweden Industrial Production Growth Eases In May

07/07/2021 - 05:21:00 (RTTNews)

(RTTNews) - Sweden's industrial production growth eased in May, data from Statistics Sweden showed on Wednesday.

Industrial production grew a calendar-adjusted 24.2 percent year-on-year in May, after a 27.1 percent rise in April.

The overall private sector output rose 9.7 percent yearly in May, after a 11.1 percent increase in the previous month.

The largest upward contribution to total private sector development came from motor vehicle industry, by 78.0 percent year-on-year in May.

Services output gained 8.4 percent annually in May, while construction output declined 5.2 percent.

On a month-on-month basis, industrial production increased 0.1 percent in May, after a 0.9 percent rise in the prior month.

The total private sector output declined 0.2 percent from the previous month.

Manufacturing output decreased 0.1 percent monthly in May, after a 1.0 percent rise in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 32.7 annually in May.

Orders received from the domestic market increased 19.9 percent in May and those from foreign markets rose 42.2 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 6.1 percent in May.

Another data from Statistics Sweden showed that the household consumption increased a seasonally adjusted 2.6 percent monthly in May.

On an annual basis, household consumption grew 8.8 percent in May.

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