Sweden: Industrial production increases in March
May 5, 2015
Industrial production in March increased 0.8% over the previous month in seasonally-adjusted terms. The result was down from the 1.2% increase recorded in February, but beat the 0.2% increase that the markets had expected. According to Statistics Sweden (SCB), the monthly result was driven by contractions in the mining and quarrying sector, as well as in several manufacturing industries, including basic metals as well as chemicals and pharmaceuticals.
In annual terms, industrial production increased 0.3% in March, which contrasted the 3.9% drop tallied in February. As a result, annual average growth in industrial output picked up from minus 2.9% in February to minus 2.5% in March.
Author: Carl Kelly, Economist