Sweden Industry June 2021

Sweden

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 8.3% in 2021, which is up 0.5 percentage points from last month’s forecast, and rise 2.8% in 2022.


Author:, Economist

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Sweden Industry June 2021

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


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