Sweden: Industrial output deteriorates in October
Industrial output fell 1.4% in month-on-month seasonally adjusted terms in October, which contrasted September’s 3.9% increase. Looking at the details of the release, October’s reading was largely driven by mining production declining over 19%. Additionally, manufacturing production slid in October from the prior months healthy expansion.
On an annual basis, factory output rose 2.9% in October, which was significantly below Septembers 6.9% expansion. Meanwhile, the trend was unchanged; annual average of industrial production was steady at September’s 2.6% in October.