Sweden: Industrial production eases in February
April 5, 2016
On a monthly basis, industrial production increased 0.1% over the previous month in seasonally-adjusted terms, which was below the revised 0.2% increase recorded in January (previously reported: -0.6% month-on-month). The figure undershot market expectations, which had envisioned a 0.3% increase in February. According to Statistics Sweden (SCB), the petroleum industry saw the largest increase over the previous month, while the chemical and pharmaceutical industry showed the largest decrease.
In February, industrial production rose 3.8% over the same month last year, which was above the revised 4.4% growth recorded in January (previously reported: +4.6% year-on-year). Moreover, annual average growth in industrial production increased from 3.0% in January to 3.7% in February, the highest reading since November 2011.
Author: Robert Hill, Economist