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Fast Comment SwedenBusiness sector production in January

  1. Production growth has stopped accelerating...
  2. ...but it remains quite high after years of improvement
  3. Indicators suggest the near-term outlook is robust, in line with our GDP forecast
Please see graphs below


The trend in month-on-month growth in the Production Value Index eased marginally...



...but consecutive growth was actually positive in January, keeping year-on-year growth healthy



Sentiment indicators, like the NIER Business Survey, and hard data, like new manufacturing orders, point to some further near-term pick up in industrial production growth 


Source: Macrobond


Overall, production developments are in line with our GDP forecast





Disclaimer

Johan Löf

Senior Economist

Sweden

jolo22@handelsbanken.se

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