Sweden: Industrial production increases slightly in June
August 14, 2012
In June, industrial production increased 0.4% over the previous month in seasonally and working-day adjusted terms. The expansion came in well below the 3.6% rise tallied in May (previously reported: +3.5% month-on-month). According to Statistics Sweden (SCB), the reading mainly reflected an increase in the electrical equipment industry. Compared to the same month last year, industrial production increased a working-day adjusted 1.1%, which contrasted the 2.4% decline observed in May and the 1.1% contraction expected by the market. Nevertheless, the trend continues to point downwards, with annual average growth falling from minus 0.3% in May to minus 0.6% in June.