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Sweden Industrial production May 2024

Sweden: Industrial output grows at fastest pace since August 2023 in May

Industrial output—excluding energy—rose 1.2% month on month in seasonally adjusted terms in May (April: -2.5% mom). The print marked the best reading since August 2023. Looking at the details of the release, May’s turnaround came on the back of recoveries in manufacturing and mining production.

On an annual basis, factory output dropped 2.8% in May, easing from April’s 4.3% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.9%, down from April’s minus 0.3%.

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