Sweden’s industrial production has contracted at the steepest annual rate since July 2023 in April, data showed on Monday.
Industrial production has decreased 4.4% year-on-year in April, following a revised down 2% expansion in March.
In April, manufacturing output shrank 5.3% YoY after a 1.5% growth in the preceding month, Statistics Sweden reported.
Meanwhile, production growth picked up for mining & quarrying (13.8% YoY compared to 11.2% YoY in March).
In seasonally adjusted monthly terms, the nation’s industrial production dropped 2.4% in April, following a revised down 0.9% growth in March.
The Swedish Krona was last 0.24% weaker on the day against the US Dollar, with the USD/SEK currency pair trading at 10.5531.
The exotic Forex pair has eased from a one-week high of 10.5889, which it registered earlier in the session.
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