Sweden Industry September 2020

Sweden

Sweden: Industrial activity drops at sharpest rate since April in September

November 5, 2020

Industrial output declined 1.4% on a month-on-month seasonally-adjusted terms in September, which contrasted August's 6.8% increase. The result marked the worst reading since April. September's reading was partly driven by a sharp contraction in manufacturing output. In contrast, mining output fell at a softer rate.

On an annual basis, industrial output dropped 2.4% in September, which was greater than August’s 1.4% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.6%, down from August's minus 4.2%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 4.6% in 2021, which is up 0.4 percentage points from last month’s forecast, and rise 3.2% in 2022.


Author:, Economist

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Sweden Industry September 20 20

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


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