Sweden: Industrial production records a stark contraction December
February 5, 2016
Industrial production in December fell a striking 2.9% over the previous month, in seasonally-adjusted terms, which contrasted the 1.6% increase tallied in November. The figure greatly fell short of market expectations, which had envisioned a 0.3% increase in December. According to Statistics Sweden (SCB), the monthly increase was driven by the electronics industry, which saw the largest decrease.
In annual terms, industrial production expanded a modest 0.3%, which was down from the 6.6% increase seen in November. December’s figure marks the lowest figure in 5 months. Despite the modest result, annual average growth in industrial output improved, rising from a 1.3% increase in November to a 1.5% rise in December.
Author: Robert Hill, Economist