Sweden: Industrial production drops in November
January 9, 2015
Industrial production dropped 0.2% over the previous month in seasonally-adjusted terms in November. The decline contrasted the 0.3% rise recorded in October and undershot the 0.5% increase that the markets had expected. According to Statistics Sweden (SCB), the monthly result reflected a notable decrease in the electronics industry, which was partially offset by a substantial increase in non-metallic mineral products.
In annual terms, industrial production fell 5.0% in November, which contrasted the 0.2% rise tallied in October. Due to December’s sharp fall, annual average growth in industrial output edged down from minus 1.5% in October to minus 2.0% in November.
Author: Cecilia Simkievich, Economist