Sweden’s economy expanded for the first time in three months in November, while industrial production rose at a slower pace, separate reports from Statistics Sweden showed on Friday.
Gross domestic product advanced 0.9 percent month-on-month in November, reversing a 0.3 percent fall in the previous month.
“Following weaker figures in the two preceding months, Swedish economic activity increased in November, where growth in service-producing industries outweighed a slowdown among goods producers and general government,” Asuman Erenel, economist at Statistics Sweden, said.
On a yearly basis, GDP growth accelerated to 2.7 percent in November from 2.2 percent in October.
Another report showed that industrial production advanced 4.2 percent annually in November, though slower than the 5.9 percent growth in the prior month.
Production in the service sector rose by 3.7 percent, and the output produced in the utility sector dropped marginally by 0.1 percent. Data showed the growth in construction production moderated to 1.0 percent from 2.2 percent.
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