Sweden: Industrial production falls again in January
March 5, 2014
Industrial production fell 0.3% in January over the previous month in seasonally-adjusted terms. The figure matched December's result (previously reported: -1.0% month-on-month) and contrasted the 0.5% increase that markets had expected. According to Statistics Sweden (SCB), the monthly fall came on the back of a deterioration in the transport equipment and chemical industries. Compared to the same month last year, industrial production accelerated from a 0.3% increase in December to a 0.8% rise in January. Annual average growth in industrial production rose from minus 4.0% in December to minus 3.1% in January. 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