Sweden: Industrial output shrinks in October
Latest reading: Industrial output—excluding energy—swung into contraction in October, falling 0.3% in month-on-month seasonally and calendar-adjusted terms and contrasting September’s 1.0% print. Looking at the details of the release, manufacturing output decreased after expanding in September, and mining and quarrying output shrunk at a sharper pace.
On an annual basis, industrial output fell at a steeper pace of 1.6% in calendar-adjusted terms in October, deteriorating from September’s 1.3% increase. As a result, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.4%, down from September’s minus 1.2% reading.