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Financial News: Sweden Industrial Production Rises For Third Month

Sweden Industrial Production Rises For Third Month

02/05/2021 - 06:47:00 (RTTNews)

(RTTNews) - Sweden's industrial production rose for the third month in a row in December, data from Statistics Sweden showed on Friday.

Industrial production gained a calendar-adjusted 5.9 percent year-on-year in December, following a 1.2 percent rise in November.

The overall private sector output fell 1.5 percent yearly in December, following a 0.9 percent decrease in the previous month.

The largest upward contribution to total private sector development came from chemical and pharmaceutical industry, by 46.0 percent year-on-year in December.

Services output fell 3.0 percent annually in December.

On a month-on-month basis, industrial production increased 1.4 percent in December, after a 1.3 percent rise in the prior month.

The total private sector output declined 0.5 percent from the previous month.

Manufacturing output grew 1.5 percent monthly in December, after a 1.3 percent increase in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 8.2 annually in December.

Orders received from the domestic market decreased 2.8 percent in December, while those from foreign markets rose 17.3 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 2.2 percent in December.

Another data from Statistics Sweden showed that the household consumption fell a seasonally adjusted 0.4 percent monthly in December.

On an annual basis, household consumption declined 6.3 percent in December.

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