Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sweden Industrial Output Plunges as European Demand Falters

Nov. 9 (Bloomberg) -- Swedish industrial production fell more than estimated in September as the export-dependent country suffers from declining sales abroad.

Industrial production fell an annual 5 percent, after rising a revised 2.7 percent the previous month, Stockholm-based Statistics Sweden said today. Production was estimated to fall 0.1 percent, according to the median forecast in a Bloomberg survey of six economists. Output fell a monthly 4.1 percent, compared with a predicted drop of 1.5 percent.

Sweden’s central bank last month signaled it may cut rates for a fourth time since December last year as it trimmed its 2012 growth forecast to 0.9 percent from 1.5 percent. Exporters including Ericsson AB, the world’s largest maker of wireless equipment, and truck maker Volvo AB are cutting jobs as demand slows from Europe.

The krona declined 0.5 percent to 8.5482 per euro as of 9:52 a.m. in Stockholm, the biggest drop among major currencies tracked by Bloomberg.

Industrial orders fell an annual 5.3 percent and increased a monthly 1.2 percent in September, Statistics Sweden said. Exports orders dropped an annual 4.3 percent, while domestic orders declined an annual 6.4 percent.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.