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Financial News: Sweden Industrial Production Surges In September

Sweden Industrial Production Surges In September

11/09/2021 - 06:34:00 (RTTNews)

(RTTNews) - Sweden's industrial production increased in September, data from Statistics Sweden showed on Tuesday.

Industrial production grew a calendar-adjusted 3.9 percent year-on-year in September, after a 1.2 percent rise in August.

The overall private sector output rose 6.0 percent yearly in September, after a 4.1 percent increase in the previous month.

The largest upward contribution to total private sector development came from the chemical and pharmaceutical industry, by 46.9 percent year-on-year in September.

Services output gained 7.0 percent annually in September and construction output grew 2.8 percent.

On a month-on-month basis, industrial production increased 0.3 percent in September, after a 3.7 percent rise in the prior month.

The total private sector output increased 1.9 percent from the previous month.

Manufacturing output rose 1.0 percent monthly in September, after a 4.3 percent drop in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 0.9 annually in September.

Orders received from the domestic market increased 2.7 percent in September, while those from foreign markets fell 0.4 percent.

On a month-on-month basis, industrial orders fell a seasonally adjusted 2.0 percent in September.

Another data from Statistics Sweden showed that the household consumption decreased a seasonally adjusted 0.1 percent monthly in September.

On an annual basis, household consumption grew 4.4 percent in September.

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