09.03.202110:23:00UTC+00Sweden Industrial Production Growth Slows In January

Sweden's industrial production grew at a softer pace in January, data from Statistics Sweden showed on Tuesday.

Industrial production rose a calendar-adjusted 1.1 percent year-on-year in January, after a 7.2 percent rise in December.

The overall private sector output fell 2.9 percent yearly in January, following a 2.2 percent decrease in the previous month.

The largest upward contribution to total private sector development came from motor vehicle industry, by 2.3 percent year-on-year in January.

Services output fell 3.5 percent annually in January and construction output declined 4.4 percent.

On a month-on-month basis, industrial production decreased 1.5 percent in January, after a 1.8 percent rise in the prior month.

The total private sector output rose 0.1 percent from the previous month.

Manufacturing output decreased 1.4 percent monthly in January, after a 1.9 percent increase in the previous month.

Separate data from the statistical office revealed that a calendar adjusted industrial orders rose 8.5 annually in January.

Orders received from the domestic market decreased 0.7 percent in January, while those from foreign markets rose 13.1 percent.

On a month-on-month basis, industrial orders rose a seasonally adjusted 0.6 percent in January.

Another data from Statistics Sweden showed that the household consumption increased a seasonally adjusted 1.8 percent monthly in December.

On an annual basis, household consumption declined 3.8 percent in January.