Sweden Industrial Output Growth Improves To 4.2%

(RTTNews) - Sweden's industrial production growth rebounded at the end of the year, data from Statistics Sweden showed on Tuesday.

Industrial production advanced a calendar-adjusted 4.2 percent year-over-year in December, faster than the 3.1 percent increase in November. Production has been rising since April.

Among sectors, the annual growth of manufacturing output accelerated to 4.2 percent from 2.3 percent in November, and output produced in the utility sector rebounded by 1.9 percent versus a 0.1 percent fall in November. Meanwhile, the yearly growth in mining and quarrying output eased sharply to 7.3 percent from 26.4 percent.

Data showed that construction output grew 1.6 percent annually in December after a 1.0 percent rise a month ago.

On a monthly basis, industrial production recovered strongly by a seasonally adjusted 5.1 percent in December.

Separate official data showed that industrial orders climbed 6.8 percent annually in December, though much slower than the 19.4 percent surge in November.