Sweden: Industrial output grows at fastest pace since August 2020 in June
August 10, 2021
Industrial output expanded 3.1% in month-on-month seasonally-adjusted terms in June, which was above May's 0.3% increase. June's reading marked the best result since August 2020, with the reading largely due to faster growth in manufacturing production. In contrast, mining production fell notably.
On an annual basis, factory output rose at a more moderate pace of 17.9% in June (May: +23.5% yoy). Meanwhile, annual average industrial production growth rose to 5.9% in June (May: +3.7%), signaling an improving trend in the industrial sector.
Author: Stephen Vogado, Economist