Sweden Industry


Industrial production plummets in September

In September, industrial production declined 4.1% over the previous month in seasonally and working-day adjusted terms. The decrease contrasted the revised flat growth rate tallied in August (previously reported: +0.4% month-on-month) and represented the largest drop in output since February. According to Statistics Sweden (SCB), the majority of the sub-sectors contracted in September. Compared to the same month last year, industrial production fell a working-day adjusted 5.0%, which contrasted the 2.7% increase observed in August and was below the 0.1% decrease expected by the market. As a result of the negative reading, the trend continues to point downwards, with annual average growth falling from minus 1.3% in August to 1.9% in September.


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Sweden Industry Chart

Sweden Industry September 2012

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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