Sweden: Industrial output declines in December
February 10, 2017
Industrial production swung from a revised 1.1% expansion in seasonally-adjusted terms in November (previously reported: +1.2% month-on-month) to a sharp 1.8% contraction in December. According to Statistics Sweden (SCB), December’s reversal reflected a strong decrease in the components of chemicals and industry for pharmaceutical products and the manufacture of computer, electronic and optical products.
A year-on-year comparison showed that the decline in industrial output worsened from a 0.1% drop in November to a sharper 0.9% contraction in December. The overall trend pointed downwards as annual average growth in industrial production edged down from 2.3% in November to 2.0% in December.