Sweden Industry


Sweden: Industrial output declines in April

June 10, 2013

In April, industrial production fell 0.5% over the previous month in seasonally and working-day adjusted terms. The decrease contrasted both the 0.6% gain tallied in March (previously reported: +0.8% month-on-month) and market expectations of a 0.3% rise. According to Statistics Sweden (SCB), the decline was mainly driven by the electric equipment industry.

Compared to the same month last year, industrial production fell 0.8% in working-day adjusted terms, which is worse than the 0.1% contraction observed in March. The trend, however, points upwards, with annual average growth rising from minus 2.8% in March to minus 2.3% in April.

FocusEconomics Consensus Forecast panellists see industrial production contracting 0.3% in 2013, which is down 0.2 percentage points from the previous month's estimate. For 2014, the panel anticipates industrial production to increase 3.5%.


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Sweden Industry Chart

Sweden Industry April 2013

Note: Month-on-month seasonally adjusted changes and year-on-year variation of industrial production in %.
Source: Statistics Sweden (SCB) and FocusEconomics calculations.

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