Sweden Industry May 2021

Sweden

Sweden: Industrial output bounces back in May

July 7, 2021

Industrial production grew 0.3% month-on-month in seasonally-adjusted terms in May, which contrasted April’s 0.6% decline. May's rebound was partly due to an improvement in manufacturing production, while mining production gained steam.

On an annual basis, factory output rose 24.4% in May, which came in only slightly below April’s record 27.5% expansion. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 3.8%, up from April's 0.3% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 7.8% in 2021, which is up 0.9 percentage points from last month’s forecast, and rise 2.8% in 2022.


Author:, Economist

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Sweden Industry May 2021

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


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