Sweden Industry July 2016


Sweden: Industrial production reaches a six-month high in July

September 5, 2016

Industrial production picked up the pace in July and logged a 1.1% increase over the previous month in seasonally-adjusted terms. The print, which marked a six-month high, represented a turnaround over the 0.4% drop recorded in June. According to Statistics Sweden (SCB), July’s spike mainly reflected a strong increase in the subsector of other transport equipment, while the electronics and basic metals industries showed the largest decreases.

A year-on-year comparison showed that industrial production increased 4.2% in July, which contrasted the 1.4% contraction registered in June. The overall trend pointed upwards as annual average growth in industrial production inched up from 3.7% in June to 4.2% in July.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.0% in 2016, which is down 0.6 percentage points over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 2.5%.

Author:, Economist

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Sweden Industry Chart

Sweden Industry July 2016 0

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Office for National Statistics (ONS).

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