Swedish industrial production rebounded in August as the largest Nordic economy showed resilience to slumping demand from Europe.
Industrial production rose an annual 3.2 percent, after contracting a revised 0.9 percent the previous month, Stockholm- based Statistics Sweden said today. It was estimated to rise 1.5 percent, according to the median forecast in a Bloomberg survey of five economists. Output rose a monthly 0.4 percent, compared with a 0.9 percent predicted contraction.
Sweden’s central bank last month cut its benchmark rate for a third time since December to boost economic growth. Sweden gets about half its output from exports, about 70 percent of which go to Europe where countries are cutting spending.
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