Sweden Industry July 2020


Sweden: Industrial output growth eases in July

September 8, 2020

Industrial output rose 2.4% month-on-month in seasonally-adjusted terms in July, which was a deterioration from June's 8.2% increase.

Looking at the details of the release, softer growth in mining output and a mild contraction in the manufacturing sector drove the slowdown.

On an annual basis, industrial production decreased 8.0% in July, a softer contraction than June’s 8.9% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.7%, down from June's minus 2.7% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will decrease 5.4% in 2020, which is up 2.5 percentage points from last month’s forecast, before rising 4.5% in 2021.

Author:, Economist

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Sweden Industry Chart

Sweden Industry July 20 20

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

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