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Sweden Industrial production November 2023

Sweden: Industrial output deteriorates in November

Industrial output—excluding energy—decreased 1.2% in month-on-month seasonally adjusted terms in November, which was a deterioration from October’s 0.1% decrease. November’s figure marked the worst reading since June. Looking at the details of the release, the sharper drop was largely due to a steeper decline in manufacturing production, as it fell at the quickest pace since June. This outweighed a more moderate contraction in mining production.

On an annual basis, factory output rose at a faster rate of 1.3% in November (October: +0.2% yoy). Consequently, annual average industrial production growth rose to 1.6% in November (October: +1.3%). This signals an improving trend in the industrial sector.

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