Sweden's industrial production declined at a faster rate in May, data released by Statistics Sweden showed on Monday.
Industrial production fell a calendar-adjusted 7.3 percent year-on-year, following a downwardly revised 1.1 percent decline in April.
Manufacturing output shrank 8.1 percent, while production in mines and quarries rose 7.5 percent. Energy output dropped 11.7 percent.
Month-on-month, industrial production decreased 2.6 percent in May, after a downwardly revised 1.1 percent fall in the previous month.
The weakest development was witnessed in the chemical industry and pharmaceutical industry aggregate, the agency said. Meanwhile, the electrical equipment industry registered strong growth. On the other-hand, the industry for basic metals reported a significant decrease in May.
Statistics Sweden also released new orders data for May which showed an yearly decline of 6.1 percent, following a revised 0.6 percent increase in April. On a monthly basis, industrial orders dropped 2.6 percent, after a 10.3 percent fall in the previous month.
For comments and feedback: editorial@rttnews.com