Sweden: Industrial output declines in November
January 10, 2013
In November, industrial production fell 1.3% over the previous month in seasonally and working-day adjusted terms. The decrease contrasted the revised 0.6% increase tallied in October (previously reported: +0.5% month-on-month) and exceeded market expectations of a 0.5% fall. According to Statistics Sweden (SCB), the decrease was mainly driven by the electronics industry.
Compared to the same month the year before, industrial production fell a working-day adjusted 4.3%, which followed the decrease of the same magnitude tallied in October. As a result of the negative reading, the trend continues to point downwards, with annual average growth falling from minus 2.5% in October to minus 2.8% in November.