Sweden: Decline in industrial output softens in September
November 9, 2021
Industrial output dropped 0.4% in month-on-month seasonally-adjusted terms in September, which was a smaller contraction than August's 2.2% decrease. September's softer drop was largely driven by a rebound in manufacturing output, while, in contrast, mining production fell notably.
On an annual basis, industrial production increased 2.1% in September, which was above August’s 1.4% expansion. Meanwhile, annual average industrial production growth rose to 7.0% in September (August: +6.6%), signaling an improving trend in the industrial sector.
Author: Stephen Vogado, Economist