Financial News: Sweden Posts Second Month Of GDP Contraction; Industry

Sweden Posts Second Month Of GDP Contraction; Industry Recovers

09/10/2026 - 07:53:00 (RTTNews)

(RTTNews) - Sweden's economy contracted for the second straight month in July, while industrial production recovered, separate reports from Statistics Sweden showed on Thursday.

Gross domestic product decreased 0.8 percent monthly in July, following a renewed 0.2 percent fall in June, preliminary data revealed.

The annual economic growth moderated to 2.5 percent from 2.9 percent.

"Year-on-year economic growth, however, remains clearly above the historical average seen over the preceding decade," Mattias Kain Wyatt, economist at Statistics Sweden, said.

Industrial production rose 0.2 percent annually in July, in contrast to a 0.5 percent decline in June.

Among sectors, manufacturing production advanced 0.6 percent after remaining flat in the prior month. The downturn in mining and quarrying eased to 9.0 percent from 14.3 percent, while the decline in utility sector output deepened notably to 13.2 percent from 7.8 percent.

Data showed that the growth in the construction sector was 1.1 percent, though it moderated from 5.2 percent a month ago.

On a monthly basis, industrial production dropped 3.6 percent in July after falling 0.7 percent in the prior month.

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