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Financial News: Sweden Industrial Production Growth Slows In July

Sweden Industrial Production Growth Slows In July

09/08/2021 - 05:04:00 (RTTNews)

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

Industrial production grew a calendar-adjusted 13.3 percent year-on-year in July, after a 15.5 percent rise in June.

The overall private sector output rose 10.5 percent yearly in July, after a 10.6 percent increase in the previous month.

The largest upward contribution to total private sector development came from motor vehicle industry, by 22.5 percent year-on-year in July.

Services output gained 10.0 percent annually in July and construction output grew 9.7 percent.

On a month-on-month basis, industrial production increased 1.2 percent in July, after a 1.9 percent rise in the prior month.

The total private sector output rose 2.0 percent from the previous month.

Manufacturing output increased 1.2 percent monthly in July, after a 2.2 percent rise in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 13.5 annually in July.

Orders received from the domestic market increased 8.4 percent in July and those from foreign markets rose 16.9 percent.

On a month-on-month basis, industrial orders fell a seasonally adjusted 1.4 percent in July.

Another data from Statistics Sweden showed that the household consumption increased a seasonally adjusted 0.7 percent monthly in July.

On an annual basis, household consumption grew 6.4 percent in July.

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