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%.
Author: Stephen Vogado, Economist