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

3/9/2012 3:43 AM ET

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 RTT Staff Writer

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