Sweden: Industrial production rises in March
Total industrial production excluding energy increased a seasonally-adjusted 0.5% in March over the previous month according to Statistics Sweden (SCB), contrasting February’s revised 0.9% decrease (previously reported: -0.8% month-on-month). March’s figure was driven by expansion in both the manufacturing and mines and quarries sectors.
On a year-on-year basis, industrial production grew 6.8% in March, down from February’s revised 6.3% (previously reported: +6.7% year-on-year). Annual average growth in industrial production increased from 5.3% in February to 5.5% in March.