Sweden Industry September 2016

Sweden

Sweden: Industrial production swings to expansion in September

Growth in industrial production jumped to an unexpected 6.8% increase over the previous month in seasonally-adjusted terms in September. The print, which was the highest in over four years, contrasted both August’s 5.0% drop (previously reported: -4.1% month-on-month) and market expectations of a smaller drop of 2.0%. According to Statistics Sweden (SCB), September’s reversal reflected a broad-based increase in all the components of the indicator.

A year-on-year comparison showed that industrial production grew 1.5% in September, which strongly contrasted the 5.0% drop registered in August. The overall trend pointed downwards as annual average growth in industrial production edged down from 3.6% in August to 3.2% in September.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.4% in 2016, which is down 0.4 percentage points from the previous month’s forecast. For 2017, the panel expects that industrial production will increase 2.6%, which is up 0.2 percentage points from last month’s forecast.


Author:, Economist

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Sweden Industry September 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Sweden (SCB).


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