An indicator of Sweden’s residential construction activity declined to the lowest level in almost nine years, contrasting with recent signs that one of the world’s worst housing slumps is letting up.
The dwelling subcomponent of the monthly Byggfakta indicator fell in June for a 22nd month in a row to the weakest point since August 2014 after a preliminary improvement in May was revised to a drop, according to a statement on Wednesday. Still, growth in other parts of the construction industry helped overall building starts rise for a second month.
--With assistance from Niclas Rolander.
