Sweden: Industrial production recovers in August
October 5, 2015
Industrial production in August rose 4.7% over the previous month in seasonally-adjusted terms, which contrasted the revised 4.0% decrease recorded in July (previously reported: -3.0% month-on-month). August’s sharp increase was the highest since November 2013 and drastically overshot market expectations of a 1.5% expansion. According to Statistics Sweden (SCB), the monthly result was driven by an expansion in the majority of sectors. The electrical equipment sub-sector saw the largest increase, contrasting last month in which it observed the largest decline.
In annual terms, industrial production rebounded from a 2.0% decrease in July to a 3.8% expansion in August. As a result, annual average growth in industrial output eased from minus 1.2% in July to minus 0.7% in August, the highest figure since March 2012.
Author: Robert Hill, Economist