Sweden: Industrial production continues to expand in July
September 10, 2012
In July, industrial production increased 0.3% over the previous month in seasonally and working-day adjusted terms. The expansion came in a notch below the 0.4% rise tallied in June. According to Statistics Sweden (SCB), the reading mainly reflected an increase in the mining and quarrying sector. Compared to the same month last year, however, industrial production fell a working-day adjusted 0.4%, which contrasted the 1.2% increase observed in June but was less than the 2.1% contraction expected by the market. Moreover, the trend continues to point downwards, with annual average growth falling from minus 0.6% in June to minus 1.1% in July.