Sweden Industry June 2022

Sweden

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.8% in 2022, which is down 0.3 percentage points from last month’s forecast, and rise 2.4% in 2023.


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Sweden Industry June 2022

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


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