Sweden’s industrial production rebounds in July, fastest in near six months

Industrial production in Sweden rebounded during the month of July, at the fastest pace in near six months, statistical figures released showed Monday.

Swedish industrial production grew for the first time in three months in July and at the fastest pace since March, data released by Statistics Sweden showed Monday. Industrial production grew a calendar-adjusted 4.2 percent year-on-year following a 1.4 percent decline in June.

The latest increase was the first since April and the biggest since March's 6.4 percent gain. Manufacturing of other transport equipment was the sub-sector that showed the largest increase, while the production for basic metals and the electronics industry showed the biggest decline, the agency said.

On a month-on-month basis, industrial production grew a seasonally adjusted 1.1 percent in July. Meanwhile, the agency also announced that industrial orders grew 4.7 percent month-on-month and 5.2 percent from a year ago during July.