Sweden Industrial production


Sweden: Industrial production contracts again in June

August 10, 2015

Industrial production in June fell 0.9% over the previous month in seasonally-adjusted terms, which was greater than the 0.3% decline recorded in May. June’s reading was the lowest in five months and undershot market expectations of a 0.1% contraction. According to Statistics Sweden (SCB), the monthly result was driven by a deterioration in several sectors of the manufacturing industry. The basic metals as well as chemicals and pharmaceuticals categories showed the largest losses. In contrast, production in the computer and electronic products sector increased over the previous month. Meanwhile, mining and quarrying deteriorated in June.

In annual terms, industrial production increased 1.2% in June, was well below the 3.4% increase tallied in May. However, annual average growth in industrial output picked up from minus 1.8% in May to 1.6% in June.

FocusEconomics Consensus Forecast panelists see industrial production falling 0.1% in 2015, which is down 0.7 percentage points from the previous month’s estimate. For 2016, the panel expects industrial production to increase 3.4%.

Author:, Economist

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Sweden Industrial production Chart

Sweden Industry June 2015

Note: Month-on-month seasonally-adjusted changes and year-on-year variation of industrial production in %.
Source: Statistics Sweden (SCB) and FocusEconomics Forecast.

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