Sweden: Industrial output clocks quickest growth since August 2020 in June
Latest reading: Industrial output—excluding energy—expanded 6.7% in seasonally and calendar-adjusted month on month terms in June, which contrasted May’s 1.3% decrease. The print marked the best reading since August 2020. Looking at the details of the release, both manufacturing and mining and quarrying production bounced back in June.
On an annual basis, factory output rose at a faster rate of 13.5% in calendar-adjusted terms in June (May: +3.2% yoy c.a.), the best result since June 2021. Accordingly, the trend improved notably, with the annual average growth of industrial production coming in at 2.0% in June, up from May’s 0.6%.