Sweden Industry August 2016

Sweden

Sweden: Industrial production drops in August

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.0% in 2016, which is down 0.6 percentage points from the previous month’s forecast. For 2017, the panel expects that industrial production will increase 2.5%.


Author:, Economist

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Sweden Industry August 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).


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