Sweden: Industrial production soars in January
March 9, 2012
In January, industrial production rose a seasonally and working-day adjusted 3.6% over the previous month, which contrasted the 0.2% decline tallied in December (previously reported: 0.0% month-on-month). According to Statistics Sweden (SCB), the reading mainly reflected an improvement in the pharmaceutical as well as in the textile industries. On an annual basis, industrial production increased a working-day adjusted 2.1% over the same month last year, which contrasted the 0.4% fall recorded in December. The trend, however, continues to point downwards, with annual average growth in industrial production falling from 7.0% in December to 5.9% in January.