Sweden Industrial Output, New Orders Fall In July

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Wednesday, the Statistics Sweden announced that the industrial production decreased 19.9% year-on-year in July, compared to the 20.7% fall in the previous month, revised from 20.8% decline reported initially. Economists expected a decline of 21.2%.

On a monthly basis, industrial production declined 0.5% in July, after falling a revised 2.2% in June. The production index came in line with economists' expectations.

For the May to July period, industrial production dropped 5.4% compared to the previous three months.

Separately, the statistical office said the industrial new orders decreased 16.5% on an annual basis in July, compared with a revised 21.5% in June. Month-on-month, industrial new orders increased 8.3% in July, after falling a revised 2.4% in June. In the May to July period, new orders increased 4.4% compared to the preceding three months.

Wednesday, the Statistics Sweden announced that the industrial production decreased 19.9% year-on-year in July, compared to the 20.7% fall in the previous month, revised from 20.8% decline reported initially. Economists expected a decline of 21.2%. (Market News Provided by RTTNews)