Sweden Industry July 2021

Sweden

Sweden: Industrial output growth slows in July

September 8, 2021

Industrial output grew 0.3% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June's 2.3% increase. The weaker reading was mainly driven by a deterioration in manufacturing production, while in contrast, mining output rebounded.

On an annual basis, factory output rose 13.1% in July, which was somewhat below June’s 15.4% expansion. Meanwhile, annual average industrial production growth rose to 6.7% in July (June: +5.2%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 8.6% in 2021, which is up 0.3 percentage points from last month’s forecast, and rise 3.4% in 2022.


Author:, Economist

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Sweden Industry July 2021

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


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