Sweden: Industrial production growth moderates in January
March 5, 2015
Industrial production in January expanded 1.0% over the previous month in seasonally-adjusted terms. The expansion was down from the 2.1% increase recorded in December, but overshot the 0.4% increase that the markets had expected. According to Statistics Sweden (SCB), the monthly result was sustained by growth in the computer and electronics sector, and in the paper and metals industries. Conversely, production in the chemicals and pharmaceuticals sector, and in the food and beverages industry contracted over the previous month.
In annual terms, industrial production increased 0.8% in January, which contrasted the 1.8% drop tallied in December and marked the strongest result in 11 months. Due to January’s rebound, annual average growth in industrial output edged up from minus 2.1% in December to minus 2.0% in January.
Author: Carl Kelly, Economist