Sweden Industry September 2021

Sweden

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 4.0% in 2022, which is up 0.1 percentage points from last month’s forecast, and rise 2.4% in 2023.


Author:, Economist

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Sweden Industry September 2021

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Sweden (SCB).


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