Sweden: Industrial output flatlines in November
January 8, 2021
Industrial output rose 1.1% in month-on-month seasonally-adjusted terms in November, which followed October's 1.4% increase. The weakening was largely due to a deterioration in manufacturing production. In contrast, mining production gained steam.
On an annual basis, factory output flatlined in November (October: +0.3% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.5% in November, down from October's minus 4.3%.
Author: Stephen Vogado, Economist