Sweden: Industrial output grows at quickest pace since August 2020 in March
May 5, 2021
Industrial output increased 2.4% in month-on-month seasonally-adjusted terms in March, which was above February's 0.9% increase. March's figure marked the best result since August 2020. March's reading was largely due to an improvement in manufacturing production, while in contrast, mining production fell.
On an annual basis, factory output rose at a faster rate of 6.3% in March (February: +2.3% yoy), the best result since January 2018. Moreover, the trend improved significantly, with the annual average variation of industrial production coming in at minus 3.6%, up from February's minus 4.2%.
Author: Stephen Vogado, Economist