Increased Production in Sweden’s Business Sector in July 2023

In July 2023, Sweden’s business sector saw a 0.3 percent increase in the production value index when accounting for seasonal variations compared to June 2023. However, when considering calendar-adjusted figures, production declined by 2.0 percent compared to July 2022.

Decreased Production in the Industrial Sector: The industrial sector witnessed a 4.0 percent decrease in production in July 2023 compared to the same period the previous year when considering calendar-adjusted figures. The chemical and pharmaceutical industry had the most significant negative impact, decreasing by 7.4 percent, while the transport equipment industry made the largest positive contribution, increasing by 26.1 percent.

Service Sector’s Production Value Remained Stable: The service sector experienced a minor increase of 0.1 percent in production in July 2023 compared to the previous year when adjusting for calendar effects. Information and communication services contributed positively with an 8.6 percent increase, while trade had a negative impact with a 6.4 percent decrease.

Decreased Production in the Construction Sector: Production in the construction sector decreased by 4.7 percent in July 2023 compared to the same period the previous year when accounting for calendar effects. The construction industry contributed negatively with a 4.7 percent decline.

Considerations: Various factors impact the business sector, including branches D (electricity, gas, and heat production) and E (water supply, sewage, waste management activities). These factors should be considered when analyzing the business sector’s development. Seasonal and calendar adjustments are performed separately for each series.

Revisions: Historical data may be revised when new information becomes available, ensuring the accuracy of the statistics. Administrative data is also used to improve data quality and reduce data provider burden.

These changes aim to enhance the quality and efficiency of producing functional statistics describing individual activities in the economy, such as the business sector’s production value. It’s important to note that COVID-19 has influenced the business sector’s performance since March 2020.