Sweden Industrial Output, New Orders Decline In June

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Thursday, the Statistics Sweden said in a report that the industrial production dropped 20.8% year-over-year in June, after falling 21.7% in May, revised from 21.9% estimated initially. Economists had expected a decline of 21.6%.

In June, mining and quarrying output dropped 25.5% on an annual basis, while manufacturing output declined 20.5%

Month-on-month, industrial production dropped 2.5% in June, following a 2.7% fall in May.

In the second quarter, industrial production decreased 6.8% compared to the previous quarter.

Separately, the statistical office said the industrial new orders, dropped 21.3% annually in June, after falling a revised 30.2% in May. New orders declined 4.2% month-on-month in June, compared to the 3.5% fall in May, revised from 3.8% increase reported initially.

Thursday, the Statistics Sweden said in a report that the industrial production dropped 20.8% year-over-year in June, after falling 21.7% in May, revised from 21.9% estimated initially. Economists had expected a decline of 21.6%. (Market News Provided by RTTNews)