Sweden: Industrial production registers small decline in February
April 7, 2015
Industrial production in February fell 0.1% over the previous month in seasonally-adjusted terms. The result was up from the 1.3% decrease recorded in January, but contrasted the 0.3% 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 motor vehicles and manufacturing of machinery and equipment.
In annual terms, industrial production decreased 3.9% in February, which followed the 2.4% drop tallied in January. As a result, annual average growth in industrial output slid from minus 2.2% in January to minus 2.6% in February.
Author: Carl Kelly, Economist