Thursday, the Statistics Sweden announced that the industrial production dropped 22.9% year-over-year in March, marking the same pace as in the previous month. Economists were looking a decline of 21.8%.

On a monthly basis, industrial production decreased 2.8% in March, after falling 2.2% in January. Economists had predicted a decline of 2%.

During the January to March period, industrial output fell 8% compared to the same period of the previous year.

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