Sweden Industrial production

Sweden

Sweden: Industrial production doubles in April

June 10, 2015

Industrial production in April increased 2.0% over the previous month in seasonally-adjusted terms, the strong result was double the revised 1.0% recorded in March (previously reported: +0.8% month-on-month). March’s expansion in production was the largest since November 2013, and shattered market expectations of a 0.2% increase. According to Statistics Sweden (SCB), the monthly result was driven by large gains in manufacturing, stemming in part from increased production in the electrical equipment and computer manufacturing subsectors. The mining and quarrying sector also improved in April.

In annual terms, industrial production increased 1.5% in April, which was an improvement on the 0.7% increase tallied in March. As a result, annual average growth in industrial output picked up from minus 2.4% in March to minus 2.3% in April.

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 April 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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