Sweden: Industrial activity drops at sharpest pace since June 2023 in April
Industrial output—excluding energy—declined 2.2% in month-on-month seasonally adjusted terms in April, which contrasted March’s 1.0% increase. The result marked the worst reading since June 2023. Looking at the details of the release, April’s figure was largely due to a deterioration in manufacturing production, as it recorded the weakest reading since June 2023. In addition, mining output fell.
On an annual basis, factory output fell 4.4% in April, contrasting March’s 2.6% expansion and marking the worst result since July 2023. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.4%, contrasting March’s plus 0.4%.