Sweden Industry May 2020

Sweden

Sweden: Industrial activity drops again in May

July 7, 2020

Industrial output dropped 0.1% month-on-month in seasonally-adjusted terms in May (April: -16.4% mom).

Looking at the details of the release, manufacturing output was steady in May, while mining output fell at a quicker rate.

On an annual basis, industrial output fell at a softer pace of 16.5% in May (April: -16.6% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.4%, down from April's minus 0.9% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will decrease 6.4% in 2020, which is down 1.9 percentage points from last month’s forecast, before rising 3.1% in 2021.


Author:, Economist

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Sweden Industry Chart


Sweden Industry May 20 20

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


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