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Sweden Industry January 2021

Sweden: Industrial output swings to contraction in January

Industrial output fell 0.5% in month-on-month seasonally-adjusted terms in January, contrasting with December’s 1.6% increase. Looking at the details of the release, manufacturing output swung into contraction in January, while mining output fell at a quicker pace.

On an annual basis, industrial production increased 1.7% in January (December +3.1% yoy). Moreover, the trend improved slightly, with the annual average variation of industrial production coming in at minus 4.4%, up from December’s minus 4.6%.

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