Sweden: Industrial production deteriorates in December
February 7, 2014
Industrial production fell from a 5.5% increase in November to a 1.0% decrease in December in seasonally- and working-day adjusted terms. The result significantly undershot the 0.5% decrease that markets had expected. According to Statistics Sweden (SCB), the monthly fall came on the back of a deterioration in the mining, quarrying and manufacturing industries.
Compared to the same month of the previous year, industrial production decelerated from a 3.2% increase in November to a 0.1% rise in December. Annual average growth in industrial production edged up from minus 3.5% in November to minus 3.2% in December.
FocusEconomics Consensus Forecast panelists see industrial production rising 1.9% in 2014, which is down 0.9 percentage points from the previous month's estimate. For 2015, the panel expects industrial production to increase 3.8%.
Author: Dirina Mançellari, Senior Economist