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Financial News: Sweden Industrial Production Growth Eases In August

Sweden Industrial Production Growth Eases In August

10/06/2021 - 05:32:00 (RTTNews)

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

Industrial production grew a calendar-adjusted 0.8 percent year-on-year in August, after a 13.3 percent rise in July.

The overall private sector output rose 3.5 percent yearly in August, after a 10.7 percent increase in the previous month.

The largest upward contribution to total private sector development came from the electronics industry, by 39.3 percent year-on-year in August.

Services output gained 5.3 percent annually in August, while construction output declined 5.6 percent.

On a month-on-month basis, industrial production decreased 3.7 percent in August, after a 1.0 percent rise in the prior month.

The total private sector output decreased 4.7 percent from the previous month.

Manufacturing output declined 4.5 percent monthly in August, after a 1.0 percent rise in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 2.3 annually in August.

Orders received from the domestic market increased 4.6 percent in August and those from foreign markets rose 0.6 percent.

On a month-on-month basis, industrial orders fell a seasonally adjusted 2.4 percent in August.

Another data from Statistics Sweden showed that the household consumption decreased a seasonally adjusted 1.1 percent monthly in August.

On an annual basis, household consumption grew 4.6 percent in August.

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