Sweden: Industrial production rebounds in October
December 5, 2014
Industrial production increased 0.2% in October over the previous month in seasonally-adjusted terms. October’s reading contrasted the 1.1% contraction recorded in September, but undershot the 0.5% rise that markets had expected. According to Statistics Sweden (SCB), the monthly result reflected strong growth in computer and electronic products, mining and quarrying, as well as in coke and refined petroleum products. Conversely, food, beverages and tobacco, as well as industries for non-metallic mineral products and fabricated metal articles deteriorated compared to the previous month.
In annual terms, industrial production rose 0.1% In October, which contrasted the 4.1% contraction tallied in September. As a result, annual figures continue on a volatile path. Due to the strong rebound, annual average growth in industrial output edged up from minus 2.0% in September to minus 1.5% in October.
Author: Cecilia Simkievich, Economist