Sweden Industry December 2015

Sweden

Sweden: Industrial production contracts sharply in December

February 5, 2016

On a monthly basis, industrial production contracted 2.9% over the previous month in seasonally-adjusted terms, which contrasted the 1.6% growth recorded in November. The figure greatly undershot market expectations, which had envisioned a 0.3% increase in December. According to Statistics Sweden (SCB), the monthly decrease was driven by the electronics industry, while non-metallic mineral products showed the largest increase.

In December, industrial production rose 0.3% over the same month the previous year, which was below the 6.6% growth recorded in November and marked the lowest reading since July. Moreover, annual average growth in industrial production increased from 1.3% in November to 1.5% in December.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.5% in 2016, which is unchanged over the previous month’s forecast. For 2017, the panel expects that industrial production also will increase 6.9%.


Author:, Economist

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Sweden Industry December 2015 0

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


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