Sweden: Industrial production rises in February
April 10, 2013
In February, industrial production rose 0.5% over the previous month in seasonally and working-day adjusted terms. The increase contrasts the 1.1% decrease tallied in January and was below market expectations of a 1.0% rise. According to Statistics Sweden (SCB), the increase was mainly driven by the industry for fabricated metal products.
Compared to the same month last year, industrial production fell a working-day adjusted 0.9%, which, nevertheless, represents an improvement over the 8.0% decrease tallied in January. As a result, the trend is now pointing upwards, with annual average growth rising from minus 3.8% in January to minus 3.3% in February.
FocusEconomics Consensus Forecast panellists see industrial production expanding 1.3% in 2013, which is unchanged from the previous month's estimate. For 2014, the panel anticipates industrial production to increase 3.7%.