MNI: SWEDEN DATA: Private Sector Production (Jun.....>

MNI: SWEDEN DATA: Private Sector Production (Jun 2019) Preview - 08:30 BST

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- Previous (May): -0.1% m/m, 2.3% y/y

- Total private sector production in Sweden contracted by 0.1% m/m in May,

driven by broad-based weakness across sectors

- Indeed, declines were seen in manufacturing (-0.4%), services (-0.7%) &

construction - where output fell for a second successive month (-2.2%) after six

consecutive gains

- Flash Q2 GDP data have already been published - and the weak -0.1% q/q GDP

performance should be reflected in the Jun production data

- The Swedish Manufac PMI continues to fluctuate around its lowest levels in six

years, while the NIER's Economic Tendency Survey showed manufacturing confidence

falling below its historical avg at the start of Q3

- As such, industrial output is likely to continue to lose steam in H2

- While services activity has held up better, there are mounting signs of

sluggishness, with new business levels dropping & employment gains slowing