Sweden: Industrial output bounces back in May
Industrial production expanded 0.7% month-on-month in seasonally-adjusted terms in May (April: -1.5% mom). Looking at the details of the release, May’s rise was partly driven by a notable rebound in manufacturing output. In addition, mining production fell at a more moderate rate.
On an annual basis, industrial output increased 0.8% in May, which was better than April’s 0.2% expansion. Stil, annual average industrial production growth fell to 3.3% in May (April: +4.9%). This signals a worsening trend in the industrial sector.