Sweden: Industrial production rises slightly in October
December 10, 2012
In October, industrial production rose 0.5% over the previous month in seasonally and working-day adjusted terms. The increase contrasted the revised 4.2% decrease tallied in September (previously reported: -4.1% month-on-month) and was above market expectations of a flat reading. According to Statistics Sweden (SCB), the increase was mainly driven by the electronics industry.
Compared to the same month last year, industrial production fell a working-day adjusted 4.4%, which followed the 5.0% decrease observed in September. As a result of the negative reading, the trend continues to point downwards, with annual average growth falling from minus 1.9% in September to 2.5% in October.