Sweden: Industrial production recovers in August
Total industrial production excluding energy increased a seasonally-adjusted 0.6% in August over the previous month, contrasting July’s revised 2.6% contraction (previously reported: -2.2% month-on-month), according to Statistics Sweden (SCB). August’s figure was driven by a rebound in manufacturing, as the mining and quarrying sector contracted.
On a year-on-year basis, industrial production grew 3.0% in August, up from July’s 1.8%. Annual average growth in industrial production, dropped from 4.9% in July to 4.6% in August.