Sweden: Industrial production falls in October
December 5, 2016
Industrial production in Sweden fell 1.3% from the previous month in seasonally-adjusted terms in October. The print, which was considerably below market expectations of a 0.5% drop, contrasted markedly September’s 6.8% growth rate. According to Statistics Sweden (SCB), October’s reversal reflected a strong decrease in the chemical and pharmaceutical industries combined.
A year-on-year comparison showed that industrial production dropped 0.5% in October, which considerably contrasted the revised 1.6% increase registered in September (previously reported: +1.5% yoy). The overall trend pointed downwards as annual average growth in industrial production edged down from 3.6% in September to 3.0% in October.
Author: Andrea Vetrugno, Economist