Sweden: Industrial production decreases in July
Total industrial production, excluding energy, fell a seasonally-adjusted 2.2% in July over the previous month, a downward swing from the revised 0.3% expansion recorded in June (previously reported: +0.2% month-on-month), according to Statistics Sweden (SCB). July’s figure was weighed down by a contraction in the manufacturing sector but supported by modest growth in the mining and quarrying industry.
On a year-on-year basis, industrial production grew 2.3% in July, down from June’s revised 4.8% increase (previously reported: +5.4%). Annual average growth in industrial production, meanwhile, remained steady at 5.0% in July.