8/10/2016, 10:07 AM (Source: TeleTrader)
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Swedish industry slows 1.4% YOY in June

Industrial production in Sweden contracted at the annual rate of 1.4% in June compared to the same month a year ago. The output from factories slowed 0.4% compared to May. The aggregate for the chemical industry and the pharmaceutical industry plunged 18%, while electronics industry gained 1.3% compared to June last year, according to latest figures from Statistics Sweden (SCB).

Orders for industry decreased by 1.6% in June versus previous year. During the second quarter of 2016, orders decreased by 0.1 percent compared to the previous quarter, in seasonally adjusted figures.

The SCB's Index of Service Production increased by adjusted 3.8% in volume and working day figures in June, compared with the same month of the previous year; the index advanced 0.2% compared to the previous month.

The Stockholm's OMX 30 index fell 0.19% to 1,408 points at 10:02 a.m. CET. The Swedish krona inched 0.05% up against the euro to 9.4899, and gained 0.31% to 8.5040 for one U.S dollar.

Breaking the News / ZR