Sweden: Industrial production drops in August
October 5, 2016
Industrial production dropped 4.1% from the previous month in seasonally-adjusted terms in August. The print, which marked a 13-month low, contrasted July’s 1.5% increase. According to Statistics Sweden (SCB), August’s reversal mainly reflected declines in both the manufacturing and the mining and quarrying industries.
A year-on-year comparison showed that industrial production declined 4.8% in August, which strongly contrasted the 5.5% growth registered in July. The overall trend pointed downwards as annual average growth in industrial production edged down from 4.3% in July to 3.6% in August.
Author: Andrea Vetrugno, Economist