Swedish December Industrial Output Expands as Orders Gain
Swedish industrial production rose more than estimated in December as orders jumped.
Industrial production rose 1.3 percent, after falling a revised 1.5 percent in November, Stockholm-based Statistics Sweden said today. Production was estimated to rise 0.2 percent, according to the median forecast in a Bloomberg survey of seven economists. Output fell an annual 2.2 percent.
Sweden’s central bank meets next week to decide whether to cut its main lending rate for a fifth time since December 2011 to boost flagging growth in the export-dependent Nordic economy.
The Swedish economy will stage a slow recovery this year by expanding 1.1 percent, after growth slowed to 0.9 percent, the government estimates. Sweden exports about half of its output, of which about 70 percent go to Europe.
Industrial orders from Swedish companies rose 7.7 percent in the month and slid 2.8 percent in the year, Statistics Sweden said today.
To contact the reporter on this story: Johan Carlstrom in Stockholm at jcarlstrom@bloomberg.net
To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net
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