Sweden: Industrial output bounces back in September
Industrial output expanded 3.6% month on month in seasonally adjusted terms in September, which contrasted August’s 6.9% plunge. Looking at the details of the release, September’s figure was chiefly due to a notable rebound in manufacturing production, which more than offset mining and quarrying production falling markedly.
On an annual basis, industrial production rose at a faster rate of 6.5% in September (August: +1.8% yoy). Consequently, annual average industrial production growth rose to 2.6% in September (August: +2.1%), signaling an improving trend in the industrial sector.