Sweden Industry January 2016

Sweden

Sweden: Industrial production recovers in January

March 4, 2016

On a monthly basis, industrial production increased 0.6% over the previous month in seasonally-adjusted terms, which contrasted the revised 2.7% decrease recorded in December (previously reported: -2.9% month-on-month). The figure overshot market expectations, which had envisioned a 0.5% increase in January. According to Statistics Sweden (SCB) the manufacturing of computer, electronic and optical products witnessed the largest expansion, while the chemical industry observed the largest contraction,

In January, industrial production rose 4.6% over the same month last year, which was above the 2.0% growth recorded in December. Moreover, annual average growth in industrial production increased from 1.9% in December to 2.6% in January, the highest reading since December 2011.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 3.4% in 2016, which is unchanged over the previous month’s forecast. For 2017, the panel expects that industrial production will increase 6.8%.


Author:, Economist

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Sweden Industry January 2016

Note: Month-on-month seasonally adjusted changes and year-on-year variation of industrial production in %.
Source: Statistics Sweden (SCB) and FocusEconomics calculations.


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