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.
Author: Robert Hill, Economist