Sweden industrial orders increased 32.8%

Swedish industrial orders increased by a whopping 32.8 percent in the month of September compared to the same period last year.

Statistics Sweden has reported that the Sweden's orders for industry went up 22.3 percent in September compared to the figures in August. The strong development is mainly due to the very large orders on the export markets for transport equipment, which is a sub-sector that can be expected to extend for a few more years.

Business Insider has posted a chart that shows a 56.9 percent increase in exports. The surge in transport equipment for international orders skyrocketed by 1,898.9 percent, which is the major reason for the industrial boom.

According to RTT News, Sweden's industrial production increase in September is the second month that it went up. This is a opposite to the decrease that economists expected. Industrial production went up to a seasonally adjusted 2.0 percent month-over-month during September. However, this is slower than the previous month's 4.5 percent increase. Meanwhile, economists expected a 0.5 percent decrease for that period. Manufacturing production went up 2.0 percent in September as well, while mining and quarrying went down 4.3 percent.

Meanwhile orders for the industry market on the export market went p 45.3 percent in September, as the industry in the domestic market went down 1.6 percent, compared to figures in August, according to Statistics Sweden. Orders increased by 8.8 percent in the third quarter of this year, compared with the second quarter. Orders grew 18.2 percent on the export market and went down 2.2 percent in the domestic market.

On a yearly basis, orders went up 32.8 percent in September compared to the same period last year. Orders increased 56.9 in the export market and 7.3 in the domestic markets. German factory orders went down 1.7 percent in September in a report on Wednesday. This is opposite to the 1 percent increase expected by the analysts.