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Sweden Jan. Industrial Output Growth Exceeds Forecast, New Orders Fall

Industrial production in Sweden increased more than economists expected in January, data released by Statistics Sweden showed Friday.

Industrial output increased a working-day adjusted 2.1 percent annually in January, faster than the 1.2 percent rise economists forecast.

Mining and quarrying production rose 2 percent year-on-year, while manufacturing output rose 2.2 percent in January.

Month-on-month, industrial output climbed a seasonally adjusted 3.6 percent in January, while economists were expecting production to rise just 0.3 percent. In the November- January period, industrial output remained unchanged from the preceding three-month period.

Separately, the agency said, industrial new orders in Sweden decreased 1.2 percent on an annual basis in January. Export orders dropped 2.9 percent year-on-year, while orders in the domestic market rose 1.7 percent.

Month-on-month, new orders decreased a seasonally adjusted 0.1 percent during the month, driven by a 2.3 percent fall in export orders. Meanwhile, domestic orders moved up 3.1 percent.

by RTTNews Staff Writer

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