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Sweden Industrial production March 2024

Sweden: Industrial output notches quickest growth in nearly a year in March

Industrial output—excluding energy—expanded 2.4% in month-on-month seasonally adjusted terms in March, which contrasted February’s 1.6% decrease. March’s result marked the best reading since April 2023. Looking at the details of the release, March’s notable pickup was partly driven by a notable rebound in manufacturing production. In contrast, mining output growth weakened.

On an annual basis, industrial output grew 3.5% in March, rebounding from February’s 3.3% fall and marked the best result since August 2023. Accordingly, the trend improved modestly, with the annual average growth of industrial production coming in at 0.5% in March, up from February’s 0.2%.

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