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Sweden industrial production picks up in May

Staff Writer |
Total industrial production excluding energy in Sweden increased a seasonally-adjusted 1.8% in May over the previous month according to Statistics Sweden (SCB), contrasting April’s revised 2.1% contraction (previously reported: -1.5% month-on-month).

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May’s figure was driven by growth in both the manufacturing and mines and quarries sectors.

On a year-on-year basis, industrial production grew 3.7% in May, up from April’s revised 2.2% rise (previously reported: +3.2% year-on-year). Annual average growth in industrial production decreased from 5.3% in April to 5.1% in May.

FocusEconomics Consensus Forecast panelists project that industrial production will increase 4.5% in 2018 and 2.2% in 2019.

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