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Sweden Industry July 2020

Sweden: Industrial output growth eases in July

Industrial output rose 2.4% month-on-month in seasonally-adjusted terms in July, which was a deterioration from June’s 8.2% increase.

Looking at the details of the release, softer growth in mining output and a mild contraction in the manufacturing sector drove the slowdown.

On an annual basis, industrial production decreased 8.0% in July, a softer contraction than June’s 8.9% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.7%, down from June’s minus 2.7% reading.

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