Sweden Industrial Production Decline Slows In July

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Sweden’s industrial production decreased at the slowest pace in four months in July, data from Statistics Sweden showed on Tuesday.

Industrial production fell a calendar-adjusted 6.5 percent year-on-year in July, following a 9.1 percent decline in June.

The overall private sector output fell 4.1 percent year-on-year in July.

The largest downward contribution to total private sector development came from the motor vehicle industry, where output decreased by 14.9 percent year-on-year and contributed -0.5 percentage points.

Construction output declined 1.2 percent annually in July, while services output fell 3.5 percent.

On a month-on-month basis, industrial production increased 3.4 percent in July, after a 6.7 percent rise in the prior month.

The total private sector output rose 3.2 percent from the previous month.

Separate data from the statistical office revealed that industrial orders fell a calendar adjusted 6.4 percent annually in July.

Orders received from the domestic market decreased 4.8 percent in July, and those from foreign markets fell 7.6 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 5.5 percent in July.

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