Sweden: Industrial production growth moderates in May
Total industrial production excluding energy fell a seasonally-adjusted 0.7% over the prior month in May, down from April’s upwardly revised 1.7% increase (previously reported: +1.3% month-on-month). The downturn was the result of a broad-based decline in both mining and quarrying output and manufacturing production.
On a year-on-year basis, industrial production rose 1.0% in May, down from the revised 4.0% rise (previously reported: +3.4% year-on-year). Annual average growth in industrial production edged down to 2.0% in May from 2.3% in April.