Sweden Industry October 2016

Sweden

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.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 1.7% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects that industrial production will increase 2.2%, which is also unchanged from last month’s forecast.


Author:, Economist

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Sweden Industry October 2016

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Sweden (SCB).


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