Sweden Industrial Output Growth Slows Sharply

Industrial production in Sweden rose by 4.2% year-on-year in November 2025, slowing from a 5.9% increase in the previous month. Production growth in the manufacturing sector slowed to a six-month low of 3.4%, down from 5.4% in October, primarily weighed down by weaker output for coke and refined petroleum products (-27.8% vs -21.8%), basic metals (-9% vs -4.6%), and food products, beverage and tobacco industry (-1.7% vs -3.1%). In contrast, activity in mining and quarrying surged by 26.7%, marking a five-month high, following a 13.7% gain in the prior month. This was largely driven by higher output for metal ores (28.5% vs 15.3%) and other mines and quarries as well as in service companies that provide support activities for mining (9.8% vs 3.4%). On a seasonally adjusted monthly basis, overall industrial output fell marginally by 0.1% in November, the second straight month of decline, following a 6.8% drop in the preceding period.

Industrial production in Sweden increased by 5.9% year-on-year in October 2025, a sharp slowdown from the upwardly revised 14.6% surge in September. This was largely driven by a pronounced easing in manufacturing output, which rose 5.6% compared with 14.2% in September, mainly attributable to weaker production across most key sectors, including food products, beverages, and tobacco (-3.7% vs. -2.1%), textiles, clothing, and leather (-5.3% vs. -6.4%), and wood and wood products (-2.4% vs. -1.5%). In addition, growth in mining and quarrying moderated to 14.1% from 14.4%, reflecting softer output in other mines and quarries as well as in service companies that provide support activities for mining (3% vs 4.7%). On a seasonally adjusted monthly basis, overall industrial activity fell by 6.6%, reversing an upwardly revised 5% increase in September.

Industrial production in Sweden climbed by 10.6% year-on-year in August 2025, accelerating sharply from an upwardly revised 3.9% gain in the previous month. This marked the fifth consecutive month of growth in industrial activity as output increased at a faster pace for the manufacturing sector (10.4% vs 3.4% in July). On the other hand, production growth slowed for mining and quarrying (17.8% vs 18.9%), while it declined for electricity, gas, steam, and hot water plants (-8.7% vs 5.3%). On a seasonally adjusted monthly basis, industrial output rose by 5.1% in August 2025, rebounding from an upwardly revised 5.3% fall in the previous month.