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.
Industrial production plummets in September
November 9, 2012
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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.