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Sweden Industrial production August 2023

Sweden: Industrial output growth slows in August

Industrial production—excluding energy—grew 1.8% month on month in seasonally adjusted terms in August (July: +2.7% mom). Looking at the details of the release, August’s slowdown reflected mining output swinging to contraction, which more than offset manufacturing output gaining traction.

On an annual basis, factory output grew 5.2% in August, rebounding notably from July’s 5.6% fall. Consequently, the trend improved slightly, with the annual average growth of industrial production coming in at 2.4%, up from July’s 2.1% reading.

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