Sweden: Industrial production drops in September
November 12, 2014
Industrial production decreased 1.1% in September over the previous month in seasonally-adjusted terms. September’s reading contrasted the revised 0.3% expansion recorded in August (previously reported: -0.2% month-on-month) as well as the 0.3% increase that markets had expected. According to Statistics Sweden (SCB), the monthly result reflected a broad-based deterioration, with the largest decline recorded in the textile industry.
In annual terms, industrial production fell 4.3%% in September, which was notably down from the 2.4% contraction tallied in August. As a result of the steep fall in annual figures, annual average growth in industrial output dropped from minus 1.9% in August to minus 2.1% in September.
Author: Cecilia Simkievich, Economist