FX.co ★ Sweden Industrial Output Falls for 1st Time in 15 Months

Industrial production in Sweden contracted by 1.5% year-on-year in June 2026, reversing from an upwardly revised 7.6% expansion in May, which had marked an eight-month high. This was the first decline since March 2025 and was largely driven by a sharp drop in mining output, which fell 13.8% following an 8.5% increase in the previous month.

Manufacturing activity also weakened, decreasing 1% year-on-year after a 7.6% rise in May. The downturn reflected lower production of coke and refined petroleum products (-3.6% vs -5.7%), rubber and plastic products (-4.4% vs 3.6%), and basic metals (-3.8% vs -3.2%). These declines more than offset continued gains in textiles, clothing, and leather (3.5% vs 6.3%) and in other non-metallic mineral products (7.3% vs 11.1%).

On a seasonally adjusted monthly basis, industrial output fell 0.4% in June, following an upwardly revised 0.6% increase in the prior month.