Sweden Industry November 2020

Sweden

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%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 4.8% in 2021, which is up 1.0 percentage points from last month’s forecast, and rise 3.5% in 2022.


Author:, Economist

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Sweden Industry November 20 20

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Sweden (SCB).


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