Sweden: Industrial output falls for third straight month in March
Latest reading: Industrial output—excluding energy—remained in the doldrums in March, shrinking 1.0% month-on-month seasonally and calendar-adjusted downturn and deteriorating from February’s 0.6% decline. As a result, industrial production fell 3.7% in sequential terms overall in Q1, the first decline in three quarters. Looking at the details of the release, manufacturing output shrank at a softer pace in March, outweighing a softer decline in mining and quarrying.
On an annual basis, industrial output fell 2.9% in calendar-adjusted terms in March, deteriorating from February’s 0.5%. As a result, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.2%, below February’s minus 0.6% reading.