Sweden Industry


Industrial production rises in February

In February, industrial production rose 0.5% over the previous month in seasonally and working-day adjusted terms. The increase contrasts the 1.1% decrease tallied in January and was below market expectations of a 1.0% rise. According to Statistics Sweden (SCB), the increase was mainly driven by the industry for fabricated metal products.

Compared to the same month last year, industrial production fell a working-day adjusted 0.9%, which, nevertheless, represents an improvement over the 8.0% decrease tallied in January. As a result, the trend is now pointing upwards, with annual average growth rising from minus 3.8% in January to minus 3.3% in February.

FocusEconomics Consensus Forecast panellists see industrial production expanding 1.3% in 2013, which is unchanged from the previous month's estimate. For 2014, the panel anticipates industrial production to increase 3.7%.


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Sweden Industry Chart

Sweden Industry February 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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