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.
Author: Andrea Vetrugno, Economist