Sweden Industry


Industrial production rebounds in April

Industrial production expanded 3.0% in April over the previous month in seasonally-adjusted terms, which marked the highest growth since November 2013. The figure contrasted the 3.6% drop recorded in March (previously reported: -3.8% month-on-month) and beat the 2.0% increase that the markets had expected. According to Statistics Sweden (SCB), the monthly expansion came on the back of increases in several sub-sectors of the manufacturing industry, including gains in electrical equipment, electronic products, and machinery. Meanwhile, the chemical and pharmaceutical sector registered a decline.

Compared to the same month last year, industrial production swung from a 4.4% decrease in March to a 0.6% increase in April. Annual average growth in industrial production rose from minus 3.2% in March to minus 3.0% in April.

FocusEconomics Consensus Forecast panelists see industrial production rising 2.6% 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%.

Author:, Economist

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Sweden Industry Chart

Sweden Industry April 2014

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

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