Sweden: Industrial output gains steam in August
October 6, 2020
Industrial production grew 7.8% on a calendar-adjusted month-on-month basis in August, which was markedly higher than July’s 2.6% increase and marked the fourth monthly increase in production in a row.
Looking at the details of the release, the increase was largely driven by faster growth in manufacturing production, while contracting mining output tempered the overall rise.
On an annual basis, industrial output fell 0.2% in August, softer than July’s 8.0% fall and marking the best result since March. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.1%, down from July's minus 3.7%.
Author: Stephen Vogado, Economist