Financial News: Swedish Economy Expands Further; Industrial Output Growth

Swedish Economy Expands Further; Industrial Output Growth Remains Stable

07/08/2026 - 04:53:00 (RTTNews)

(RTTNews) - Sweden's economy expanded for the third straight month in May, while industrial production grew at a steady pace, separate reports from Statistics Sweden showed on Wednesday.

Gross domestic product advanced 0.9 percent monthly in May, faster than the 0.6 percent rise in April.

The accelerated expansion was driven by higher production among service-producing industries, where information and communication showed particularly strong growth figures, the agency said. Stronger net exports also contributed to overall GDP growth in May.

The annual economic growth quickened to 3.9 percent in May from 2.6 percent in the previous month.

Industrial production climbed 6.9 percent year-on-year in May, unchanged since April, which was the strongest growth since September 2025.

Among sectors, the annual growth in manufacturing held steady at 7.0 percent, and mining and quarrying production expanded at a faster pace of 9.1 percent versus a 1.6 percent rebound in April. Meanwhile, the decline in the utility sector output deepened to 4.3 percent from 2.2 percent.

On a monthly basis, industrial production rose 0.2 percent in May, much slower than the 4.2 percent expansion in the prior month.

Data also showed the annual growth in construction output moderated to 3.6 percent in May from 4.0 percent a month ago.

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