Sweden Industry May 2022

Sweden

Sweden: Industrial output bounces back in May

July 6, 2022

Industrial production expanded 0.7% month-on-month in seasonally-adjusted terms in May (April: -1.5% mom). Looking at the details of the release, May's rise was partly driven by a notable rebound in manufacturing output. In addition, mining production fell at a more moderate rate.

On an annual basis, industrial output increased 0.8% in May, which was better than April’s 0.2% expansion. Stil, annual average industrial production growth fell to 3.3% in May (April: +4.9%). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.1% in 2022, which is down 0.2 percentage points from last month’s forecast, and rise 2.0% in 2023.


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Sweden Industry May 2022

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Sweden (SCB).


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