Sweden Industrial production

Sweden

Sweden: Industrial production falls in August, albeit at a slower pace than the previous month

October 3, 2014

Industrial production decreased 0.2% in August over the previous month, in seasonally-adjusted terms. August’s reading was above the revised 0.8% contraction recorded in July (previously reported: -1.1% month-on-month) and contrasted the 1.0% increase that markets had expected. According to Statistics Sweden (SCB), the monthly result reflected a mixed picture among the categories that comprise the overall index. The largest declines were recorded in the sub-sectors of transport equipment and non-metallic mineral products. The sub-sectors showing the strongest performances were those of non-durable consumer goods and wood products.

In annual terms, industrial production fell 2.4% in August, which was up from the 5.2% contraction tallied in July (previously recorded: -5.7% year-on-year). Annual average growth in industrial output improved from minus 2.1% in July to minus 1.7% in August.

FocusEconomics Consensus Forecast panelists see industrial production rising 0.7% in 2014, which is down 0.9 percentage points from the previous month’s estimate. For 2015, the panel expects industrial production to increase 3.2%.


Author:, Economist

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Sweden Industrial production Chart


Sweden Industry August 2014

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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