Sweden: Industrial production expands for fourth straight month
October 10, 2012
In August, industrial production increased 0.4% over the previous month in seasonally and working-day adjusted terms. The expansion doubled the 0.2% rise tallied in July and represents, in fact, the fourth consecutive monthly increase. According to Statistics Sweden (SCB), the reading mainly reflected a strong expansion in the motor vehicle industry. Compared to the same month last year, industrial production rose a working-day adjusted 3.2%, which contrasted the 0.9% decline observed in July and was above the 1.5% increase expected by the market. Moreover, the trend stabilized, with annual average growth remaining unchanged at July's minus 1.2%.