Sweden: Industrial output gains momentum in August
Latest reading: Industrial output—excluding energy—rose at a faster 0.9% in month-on-month seasonally and calendar-adjusted terms in August compared to July’s 0.4% print. Looking at the details of the release, the upturn chiefly reflected a sharp recovery in mining and quarrying output. Meanwhile, manufacturing output growth was largely unchanged in August.
On an annual basis, industrial output fell 1.6% in calendar-adjusted terms in August, improving from July’s 1.7% contraction. Still, the trend deteriorated slightly, with the annual average variation of industrial production coming in at minus 0.8%, down from July’s minus 0.4% reading.