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

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

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- Bloomberg Consensus: 0.0% m/m, 2.7% y/y; Previous (Apr): 0.6% m/m, 4.2% y/y

- Total private sector production in Sweden grew by 0.6% m/m in Apr, supported

by strong sectoral performances 

- Indeed, manufac. production grew by 1.5% and services output expanded by 1.1%

- While construction fell slightly on the month (-0.4%), this followed a run of

six gains and left output up by a healthy 13.5% on the year

- Forward-looking evidence suggests that Swedish private sector activity is

headed for harder times ahead

- The NIER Econ Tendency Survey showed softer manufac. confidence in May & Jun,

and the Swedish manufac. PMI ended Q2 with its 2nd largest fall so far this year

- The services PMI is also sending worrying signals - the index fell into

contraction in Jun, slumping to 49.9 from 52.8 in May

- Meanwhile, the NIER survey showed confidence among firms in the building and

civil engineering industry falling in both May & Jun