Swedish business sector production rises in October, likely to rise in months ahead

Production in Swedish business sector was up in October; however, the data for earlier months were downwardly revised. Production in the total business sector, representing nearly 80 percent of GDP, was up 0.6 percent sequentially and 4.1 percent year-on-year. Production for several months was downwardly revised and therefore the year-on-year data was below the projected figure. But these revisions were most probably included in the national accounts for the third quarter.

The trend in manufacturing industry’s production is up. The trend for order intake is also up, despite the decline in October. Production in the private service sector is also on the rise; however, it has leveled out in recent months, noted Nordea Bank in a research report. The upturn is below expectation and raises some questions regarding growth. Indicators are positive and production is expected to rise in months ahead.

“All in all, growth momentum in the business sector is still healthy and points to decent GDP growth Q4”, added Nordea Bank.

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