• Swedish riksbank likely to cut rates in September

Production for the business sector increased by 0.5 percent in June compared to May in seasonally adjusted figures. Comparing June with the same month last year, production for the business sector decreased by 1.0 percent in working day adjusted figures, Statistics Sweden said.

Sweden’s central bank last month kept its main lending rate at 1 percent for a third meeting after cutting it four times in a year as it predicted growth prospects around the world will improve.

Sweden’s krona gained Wednesday after a report showed industrial production rose more than predicted, adding to evidence a recovery in the largest Nordic economy is picking up, Bloomberg said.