Sweden: Industrial production picks up in May
Total industrial production excluding energy increased a seasonally-adjusted 1.8% in May over the previous month according to Statistics Sweden (SCB), contrasting April’s revised 2.1% contraction (previously reported: -1.5% month-on-month). May’s figure was driven by growth in both the manufacturing and mines and quarries sectors.
On a year-on-year basis, industrial production grew 3.7% in May, up from April’s revised 2.2% rise (previously reported: +3.2% year-on-year). Annual average growth in industrial production decreased from 5.3% in April to 5.1% in May.