Sweden Industry October 2020


Sweden: Industrial output rebounds in October

December 7, 2020

Industrial output increased 1.2% month-on-month in seasonally-adjusted terms in October, which contrasted September's 1.7% decrease. The notable turnaround largely reflected rebounds in both manufacturing and mining production.

On an annual basis, factory output grew 0.2% in October, contrasting September’s 1.8% fall and marking the best result since February 2020. Moreover, the trend improved slightly, with the annual average variation of industrial production coming in at minus 4.3% in October, up from September's minus 4.4% reading.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.8% in 2021, which is down 0.8 percentage points from last month’s forecast, and rise 3.4% in 2022.

Author:, Economist

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Sweden Industry Chart

Sweden Industry October 20 20

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

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