Sweden: Industrial output growth slides to 10-month low in January
Industrial output—excluding energy—grew 1.0% in month-on-month seasonally adjusted terms in January, which was a deterioration from December’s 1.4% increase. Looking at the details of the release, January’s moderation reflected mining output swinging to a contraction. This was partly offset by manufacturing output accelerating in the month.
On an annual basis, industrial output rose 0.1% in January, which was below December’s 0.6% expansion. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at 0.9% in January, down from December’s 1.3% reading.