Sweden: Industrial output bounces back in May
Industrial production grew 0.3% month-on-month in seasonally-adjusted terms in May, which contrasted April’s 0.6% decline. May’s rebound was partly due to an improvement in manufacturing production, while mining production gained steam.
On an annual basis, factory output rose 24.4% in May, which came in only slightly below April’s record 27.5% expansion. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 3.8%, up from April’s 0.3% reading.