Sweden: Industrial production beats expectations in March
May 3, 2016
In March, industrial production rose 1.4% over the previous month in seasonally-adjusted terms, which marked an improvement compared to the 0.2% growth recorded in February. The figure greatly overshot market expectations for a 0.6% increase. According to Statistics Sweden (SCB), the monthly increase was driven by strong gains in the mining and quarrying industries, while the manufacturing industry also expanded, but at a more modest rate.
In March, industrial production rose 5.5% over the same month last year, coming in above the 5.1% increase recorded in February. Moreover, annual average growth in industrial production rose from 3.9% in February to 4.3% in March.
Author: Robert Hill, Economist