Sweden: Industrial output growth slows in July
Industrial output grew 0.3% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June’s 2.3% increase. The weaker reading was mainly driven by a deterioration in manufacturing production, while in contrast, mining output rebounded.
On an annual basis, factory output rose 13.1% in July, which was somewhat below June’s 15.4% expansion. Meanwhile, annual average industrial production growth rose to 6.7% in July (June: +5.2%), signaling an improving trend in the industrial sector.