Swedish service production rises in May sequentially

Sweden’s service production grew in the month of May. On a sequential basis, service production was up 0.7 percent, whereas it rose 4.5 percent on a year-on-year basis.

Production rose in May in most of the subsectors on a month-on-month basis. Subsectors that recorded rise in production included information and communication, which rose 4.4 percent in May as compared with April. On a year-on-year basis, the subsectors that mainly drove the rise in headline figure were administrative and support services along with professional, scientific and technical activities. Administrative and support services rose 14.2 percent compared with the same month in the last year.

In the March to May 2017 period, service production was up 0.1 percent when compared with the earlier three-month period.

Meanwhile, the April print when compared with March has been downwardly revised by 0.1 percentage points to a drop of 0.1 percent. On a year-on-year basis, the print was downwardly revised by 0.2 percentage points to a rise of 3.3 percent.