Sweden: Industrial production softens in January
According to Statistics Sweden, total industrial production excluding energy increased a seasonally-adjusted 0.1% in January over the previous month, down from December’s revised 1.6% increase (previously reported: +1.8%). January’s expansion was driven by growth in the manufacturing subsector, while the mines and quarries subsector contracted.
On a year-on-year basis, industrial production grew 1.5% in January, down from December’s 2.0% rise. Annual average growth in industrial production eased from 3.2% in December to 2.7% in January.