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Sweden Industrial Production Recovers In October

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Sweden Industrial Production Recovers In October

Sweden’s industrial production grew in October after falling in the previous month, data from Statistics Sweden showed on Monday.

Industrial production gained a calendar-adjusted 0.4 percent year-on-year in October, after 2.1 percent decline in September. In August, output rose 0.2 percent.

The overall private sector output fell 1.7 percent year-on-year in October, following a 3.3 percent decrease in the previous month.

The largest upward contribution to total private sector development came from petroleum products, by 139.3 percent year-on-year in October.

Services output fell 2.6 percent yearly in October.

On a month-on-month basis, industrial production increased 1.9 percent in October, after a 2.5 percent fall in the prior month.

The total private sector output rose 1.3 percent from the previous month.

Manufacturing output grew 1.8 percent monthly in October, after a 2.7 percent decrease in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 1.3 annually in October.

Orders received from the domestic market decreased 2.0 percent in October, while those from foreign markets rose 3.4 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 1.3 percent in October.

The material has been provided by InstaForex Company – www.instaforex.com