Sweden Industry November 2021

Sweden

Sweden: Industrial output growth moderates in November

January 10, 2022

Industrial production expanded 0.3% month-on-month in seasonally-adjusted terms in November, slowing markedly from October’s 2.5% surge. November's slowdown was largely driven by a deterioration in manufacturing production. In contrast, mining output gained steam.

On an annual basis, factory output rose at a faster rate of 4.7% in November (October: +4.5% yoy). Accordingly, the trend improved, with the annual average growth of industrial production coming in at 7.9% in November, up from October's 7.4% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.4% in 2022, which is unchanged from last month’s forecast, and rise 2.2% in 2023.


Author:, Economist

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Sweden Industry November 2021

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


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