Sweden: Industrial output growth gains momentum in June
August 10, 2022
Industrial output increased 1.3% in month-on-month seasonally-adjusted terms in June, which followed May's 0.9% increase. Looking at the details of the release, June's upturn was chiefly due to mining and quarrying activity rebounding. Additionally, manufacturing production accelerated.
On an annual basis, industrial output increased 1.7% in June, which was above May’s 0.9% expansion. Still, annual average industrial production growth fell to 2.1% in June (May: +3.3%). This signals a worsening trend in the industrial sector.