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Financial News: Sweden's Industrial Output Rises In January

Sweden's Industrial Output Rises In January

03/05/2020 - 04:29:00 (RTTNews)

(RTTNews) - Sweden's industrial production increased in January after falling in December, Statistics Sweden reported Thursday.

Industrial output grew 0.9 percent on a yearly basis in January, reversing a 2.6 percent drop in December.

At the same time, annual growth in construction output accelerated to 7.6 percent from 6.4 percent. Services output rebounded 4 percent following a 0.9 percent drop.

Consequently, the overall private sector output expanded 3.8 percent on year in January, in contrast to a 0.6 percent decrease in December.

Month-on-month, private sector output growth improved notably to 1.7 percent from 0.1 percent in December.

In a separate communiqué, the statistical office said industrial orders advanced 2.2 percent on year in January, confounding expectations for a decline of 0.8 percent.

At the same time, industrial orders advanced 3.5 percent on month, after a revised 0.1 percent drop in December. Mining and quarrying reported the strongest monthly growth in orders, up 17.3 percent.

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