Sweden Industry January 2021

Sweden

Sweden: Industrial output swings to contraction in January

March 9, 2021

Industrial output fell 0.5% in month-on-month seasonally-adjusted terms in January, contrasting with December's 1.6% increase. Looking at the details of the release, manufacturing output swung into contraction in January, while mining output fell at a quicker pace.

On an annual basis, industrial production increased 1.7% in January (December +3.1% yoy). Moreover, the trend improved slightly, with the annual average variation of industrial production coming in at minus 4.4%, up from December's minus 4.6%.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 4.8% in 2021, which is unchanged from last month’s forecast, and rise 3.4% in 2022.


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Sweden Industry January 2021

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


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