Sweden: Industrial activity drops again in May
Industrial output dropped 0.1% month-on-month in seasonally-adjusted terms in May (April: -16.4% mom).
Looking at the details of the release, manufacturing output was steady in May, while mining output fell at a quicker rate.
On an annual basis, industrial output fell at a softer pace of 16.5% in May (April: -16.6% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.4%, down from April’s minus 0.9% reading.