Sweden: Industrial production falls in November
January 10, 2019
According to Statistics Sweden, total industrial production excluding energy decreased a seasonally-adjusted 0.4% in November over the previous month, contrasting October’s revised 2.7% increase (previously reported: +2.8% month-on-month). November’s contraction was driven by a decline in the manufacturing sector, while the mines and quarries sector expanded.
On a year-on-year basis, industrial production grew 3.4% in November, down from October’s 4.9% increase. Annual average growth in industrial production dipped from 4.4% in October to 4.2% in November.
Sweden Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.2% in 2019 and 2.4% in 2020.
Author: Oliver Reynolds, Economist