RTTNews - Wednesday, a report by Statistics Sweden said industrial output dropped 21.9% year-on-year in May, after falling 21.2% in the preceding month. Economists expected a fall of 20%.

Mining and quarrying output dropped 20% on an annual basis, while manufacturing output declined 22%.

Month-on-month, industrial production slipped 2.7% in May compared to a 2.1% fall in April. Economists expected an increase of 0.5%.

Meanwhile, industrial new orders, dropped 30.1% annually in May, at the same pace as the revised drop in April. New orders rose 3.8% month-on-month in May, faster than a revised 0.7% rise in the preceding month.

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