Sweden Industrial Output Growth at 16-Month Low

Industrial production in Sweden rose by 1.9% year-on-year in January 2026, slowing from a downwardly revised 2.3% increase in the previous month. This marked the softest growth in industrial activity since September 2024, mainly due to a 6.7% drop (vs 7.3% in December) in mining production, particularly for metal iron mines (-2.6% vs 7.8%) and other mines and quarries (-18.8% vs -0.9%). On the other hand, output growth in the manufacturing sector remained unchanged at 2.2%. Manufacture of coke and refined petroleum products (9% vs -9.4%), chemical, chemical products and pharmaceutical products (7.8% vs -0.7%), and fabricated metal products (6.3% vs 2.7%) recorded the most notable improvements. On a seasonally adjusted monthly basis, overall industrial output dropped by 5.7% in January, slipping from a downwardly revised 3.9% gain in the preceding period.

Industrial production in Sweden rose by 4.2% year-on-year in December 2025, accelerating from a downwardly revised 3.1% gain in the previous month. Production growth in the manufacturing sector increased faster to 4.2% from a six-month low of 2.3% in November, mainly driven by significantly higher output for computer, electronic and optical products (30.3% vs 6.2%), electrical equipment (24.3% vs 7.3%), and chemical and pharmaceutical products (7.3% vs 2%). On the other hand, activity growth in mining and quarrying sharply slowed to 7.3% from a five-month high of 26.4% in the prior month, primarily due to a softer output increase for metal ores (7.9% vs 28.5%). On a seasonally adjusted monthly basis, overall industrial output advanced by 5.1% in December, recovering from an upwardly revised 0.3% fall in the preceding period.

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.