In May, industrial production increased 3.5% over the previous month in seasonally and working-day adjusted terms. The strong expansion contrasted the 0.2% decline tallied in April (previously reported: 0.0% month-on-month) and was above market expectations that had industrial output rising 0.4%. According to Statistics Sweden (SCB), the reading mainly reflected an increase in the non-durable consumer goods industry. Compared to the same month last year, industrial production decreased a working-day adjusted 2.3%, which was less than both the 6.4% decline observed in April and the 6.9% contraction expected by the markets. Nevertheless, the trend continues to point downwards, with annual average growth falling from 0.9% in April to minus 0.3% in May.
Industrial production rebounds in May
July 10, 2012
Looking for forecasts related to Industry in Sweden? Download a sample report now.
Sweden Industry Chart
Note: Month-on-month seasonally adjusted changes and year-on-year variation of industrial production in %.
Source: Statistics Sweden (SCB) and FocusEconomics calculations.
Sweden Economic News
October 11, 2016
In September, consumer prices inched up 0.2% from the previous month, contrasting August’s 0.1% drop and falling short of market expectations of a 0.5% increase.
October 5, 2016
Industrial production dropped 4.1% from the previous month in seasonally-adjusted terms in August.
September 20, 2016
The Swedish economy lost steam in the first half of this year in comparison with 2015, although it remained amongst the best performing Nordic economies, which are suffering as the stagnation in global demand puts the brakes on their key exports sector.
September 13, 2016
In August, consumer prices inched down 0.1% over the previous month, contrasting both July’s 0.1% increase and market expectations of a flat reading.
September 7, 2016
At its 6 September policy meeting, the Riksbank decided to hold its repo rate at a record low of minus 0.50%, as expected by the market, and postponed the future interest rate hikes it had planned, which are now set for the second half of 2017.