Sweden Industry March 2016

Sweden

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.1% in 2015, which is up 0.2 percentage points over the previous month’s forecast. For 2016, the panel expects that industrial production will increase 6.8%.


Author:, Economist

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Sweden Industry March 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).


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