Sweden’s industrial production rebounds in March

Sweden’s industrial production has expanded at an annual rate of 2.9% in March, while rebounding after a revised up 2.5% contraction in the prior month.

In March, production growth picked up for mining & quarrying (10.4% YoY compared to 5% YoY in February).

Meanwhile, manufacturing output rebounded in March (2.5% YoY after a 2.8% YoY slump in February).

In seasonally adjusted monthly terms, the nation’s industrial production grew 2.1% in March, following a revised up 1.8% slump in February.

The USD/SEK currency pair settled 0.15% lower at 10.8250 on Friday. For the week, the exotic currency pair edged up 0.21%, as it reversed a 1.13% loss from the prior week – its largest decline since mid-February.