Sweden: Industrial production decelerates in October
December 4, 2015
Industrial production in October fell 1.1% over the previous month, in seasonally-adjusted terms, which contrasted the 2.0% expansion tallied in September and came in below the 0.8% contraction expected by the market. According to Statistics Sweden (SCB), the monthly contraction was driven by decreases in a number of sectors, with the largest drop recorded in machinery and equipment.
In annual terms, industrial production lost steam and expanded 4.0%, which was down from the 6.5% increase seen in September. September’s figure had marked the best result since May 2011. However, annual average growth in industrial output improved, rising from a flat reading in September to a 0.3% increase in October, thus tallying the best result since February 2012.
Author: Robert Hill, Economist