Sweden Industrial Production Declines At A Softer Pace In June

(RTTNews) - Sweden's industrial production decreased at a slower pace, for the third month in a row in June, data from Statistics Sweden showed on Wednesday.

Industrial production fell a calendar-adjusted 9.1 percent year-on-year in June, following a 15.7 percent decline in May.

The overall private sector output fell 8.5 percent year-on-year in June.

The largest downward contribution to total private sector development came from the motor vehicle industry, where output decreased by 16.7 percent year-on-year and contributed -0.6 percentage points.

Construction output declined 4.3 percent annually in June, while services output fell 8.4 percent.

On a month-on-month basis, industrial production grew 6.6 percent in June, following a 2.4 percent rise in the prior month.

The total private sector output rose 0.7 percent from the previous month.

Separate data from the statistical office revealed that industrial orders fell a calendar adjusted 11.9 percent annually in June.

Orders received from the domestic market decreased 9.7 percent in June, and those from foreign markets fell 12.7 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 6.7 percent in June.