Financial News: Swedish GDP Contracts Further; Industrial Output Growth Sl

Swedish GDP Contracts Further; Industrial Output Growth Slows

03/10/2026 - 06:50:00 (RTTNews)

(RTTNews) - Sweden's economy shrank for the second straight month in January, while industrial production expanded at a slower pace, separate reports from Statistics Sweden showed on Tuesday.

Gross domestic product decreased 1.1 percent monthly in January, following a 0.7 percent fall in December, preliminary data revealed.

"The Swedish economy started the new year with decreasing production in manufacturing and construction industries as well as in the general government," Neda Shahbazi, economist at Statistics Sweden, said.

The annual growth in GDP softened to 0.6 percent in January from 1.4 percent in December.

Industrial production rose 1.9 percent yearly in January, slower than the 2.3 percent growth in December.

The overall expansion was driven by a 7.3 percent surge in the utility sector output and a 2.2 percent rise in manufacturing output. Meanwhile, the slowdown was attributed to a 6.7 percent decline in mining and quarrying production.

Monthly, industrial output fell 5.7 percent in January, in contrast to a 3.9 percent increase in the prior month.

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