Sweden: Industrial production declines in March

According to Statistics Sweden, total industrial production excluding energy fell a seasonally-adjusted 3.3% over the prior month in March, contrasting the revised 0.3% increase logged in February (previously reported: +0.4% month-on-month). The contraction was primarily dragged down by a sharp fall in manufacturing output.

On a year-on-year basis, industrial production declined 2.6% in March, following February’s revised 2.2% gain (previously reported: +2.3% year-on-year). Annual average growth in industrial production softened to 2.0% in March from 2.7% in February.

Sweden Industrial Production Forecast

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.7% in 2019, which is up 0.3 percentage points from last month’s forecast, and 1.5% in 2020.