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Sweden Industrial production July 2023

Sweden: Industrial output bounces back in July

Industrial output increased 1.4% in month-on-month seasonally adjusted terms in July, which contrasted June’s 3.7% decrease. Looking at the details of the release, July’s rebound was largely driven by a return to growth in manufacturing production. In addition, mining production also swung to an expansion, rising by over 11% month on month.

On an annual basis, industrial production fell at a more pronounced rate of 4.3% in July (June: -1.6% yoy), the worst result since July 2020. Accordingly, annual average industrial production growth fell to 2.5% in July (June: +3.4%). This signals a worsening trend in the industrial sector.

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