Sweden: Industrial output grows in June at quickest pace since January 2012
August 5, 2020
Industrial output expanded 8.8% month-on-month in seasonally-adjusted terms in June, which followed May's 0.9% increase. The result marked the strongest increase since January 2012.
The upturn was largely due to significantly faster growth in the manufacturing sector, and a small increase in mining output, which contrasted a decrease in May.
On an annual basis, industrial production fell 8.2% in June, a softer decrease than May’s 16.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.1%, down from May's minus 2.4% reading.
Author: Edward Gardner, Economist