Sweden: Industrial output deteriorates in October
Industrial production—excluding energy—dropped 0.7% month-on-month in seasonally adjusted terms in October (September: +0.5% mom). Looking at the details of the release, October’s downturn chiefly reflected a deterioration in manufacturing production. In addition, mining output swung into a contraction.
On an annual basis, industrial production fell 0.3% in October, contrasting September’s 0.1% expansion. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at a two-year low of 1.2% in October, down from September’s 1.6%.