Sweden: Industrial output dips in May
Latest reading: Industrial output—excluding energy—dropped 0.4% in month-on-month seasonally and calendar-adjusted terms in May, which contrasted April’s 3.2% increase. Looking at the details of the release, both manufacturing and mining output swung into contractions.
On an annual basis, industrial output grew 5.4% in calendar-adjusted terms in May, which was below April’s 6.8% expansion. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at 0.7%, contrasting April’s minus 0.1% reading.