Sweden: Industrial production gains momentum in October
December 6, 2018
According to Statistics Sweden, total industrial production excluding energy increased a seasonally-adjusted 2.8% in October over the previous month, up notably from September’s revised 0.5% increase (previously reported: +0.2% month-on-month). October’s acceleration was driven by faster growth in the manufacturing sector, while the mining and quarrying sector recorded a contraction.
On a year-on-year basis, industrial production grew 4.6% in October, up from September’s 2.1% increase. Annual average growth in industrial production dipped from 4.6% in September to 4.5% in October.
Sweden Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will increase 2.3% in both 2019 and 2020.
Author: Oliver Reynolds, Economist