Thursday, the Statistics Sweden said the industrial production fell a working day adjusted 22.9% year-on-year in February compared to the 23.5% fall in January, revised from 22.9 decline reported initially. Economists were looking for a decline of 21.3%.

Month-on-month, industrial output dropped 2.2% in February compared to a 2.8% fall in January, revised from 2.5% drop estimated initially. Economists expected a decline of 1.9%.

Separately, the statistical office said the total volume of new orders dropped 30% year-over-year in February compared to a revised 32.9% fall in the previous month.

Month-on-month, new orders fell 3.4% in February, following a revised 0.7% fall in January.

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