Sweden Industry


Industrial production deteriorates in December

Industrial production fell from a 5.5% increase in November to a 1.0% decrease in December in seasonally- and working-day adjusted terms. The result significantly undershot the 0.5% decrease that markets had expected. According to Statistics Sweden (SCB), the monthly fall came on the back of a deterioration in the mining, quarrying and manufacturing industries.

Compared to the same month of the previous year, industrial production decelerated from a 3.2% increase in November to a 0.1% rise in December. Annual average growth in industrial production edged up from minus 3.5% in November to minus 3.2% in December.

FocusEconomics Consensus Forecast panelists see industrial production rising 1.9% in 2014, which is down 0.9 percentage points from the previous month's estimate. For 2015, the panel expects industrial production to increase 3.8%.

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Sweden Industry Chart

Sweden Industry December 2013

Note: Month-on-month seasonally adjusted changes and year-on-year variation of industrial production in %.
Source: Statistics Sweden (SCB) and FocusEconomics calculations.

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