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Financial News: Sweden Industrial Production Growth Slows In March

Sweden Industrial Production Growth Slows In March

05/06/2022 - 05:11:00 (RTTNews)

(RTTNews) - Sweden's industrial production rose at a softer pace in March, data from Statistics Sweden showed on Friday.

Industrial production rose 0.8 percent year-on-year in March, after a 1.4 percent growth in February.

The biggest upward contribution came from chemical and pharmaceutical industry by 13.1 percent, while the largest downward contribution came from the motor vehicle industry.

Construction output increased 3.6 percent yearly in March, after a 5.34 percent drop in the previous month.

Services growth, excluding financial and insurance services, rose 3.9 percent, following a 6.2 percent in February.

On a monthly basis, industrial production rose 0.4 percent in March, after a 0.2 percent fall in the prior month.

Separate data from the statistical office showed that the industrial orders rose 6.5 percent annually in March. Domestic orders increased 4.0 percent and foreign demand grew 8.2 percent.

On a monthly basis, industrial orders rose 3.9 percent in March.

The largest monthly increase was recorded in the industry for fabricated metal products, while the biggest fall was recorded in the electronic equipment sector.

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