To main content

Production value index, August 2023

Private sector production increased in August 2023

Statistical news from Statistics Sweden 2023-10-10 8.00

Private sector production increased by 0.5 percent in August 2023 compared with July 2023 in seasonally adjusted figures, and increased by 0.7 percent compared with August 2022 in calendar adjusted figures.

Production value in industry increased

Production in the industry sector increased by 4.7 percent in August 2023 compared with the corresponding month last year, in calendar adjusted figures. The largest upward contribution to total private sector development came from the motor vehicle industry, which increased by 28.3 percent in fixed prices and contributed 0.7 percentage points. The largest downward contribution to total private sector development came from the pulp and paper industry, which decreased by 10.0 percent in fixed prices and contributed -0.2 percentage points.

Production value in services increased

Production in the services sector increased by 0.6 percent in August 2023 compared with the corresponding month last year, in calendar adjusted figures. The largest upward contribtion to total private sector development came from information and communication services, which increased 6.4 percent in fixed prices and contributed 0.7 percentage points. The largest downward contribution to total private sector development came from administrative and technological services, which decreased by 2.2 percent in fixed prices and contributed -0.2 percentage points.

Production value in construction decreased

Production in the construction sector decreased by 2.0 percent in August 2023 compared with the corresponding month last year, in calendar adjusted figures. In this sector, production decreased by 2.0 percent in fixed prices, not calendar adjusted. The construction sector, which accounts for 8.5 percent of total value added in the private sector, contributed -0.2 percentage points to the development in total private sector production.

Remarks

In addition to the industry, services and construction sectors, industries D (electricity, gas, steam and hot water plants) and E (waterworks; sewage plants; waste-disposal plants) also impact private sector production. Contributions and development for these industries can be seen in the table and diagram further down the page. Please note that data series are seasonally and calender adjusted individually. Contributions and development for these industries can be seen in the table and diagram further down the page. This means that a seasonally or calender adjusted figure for an aggregate may differ from a weighted mean of the corresponding figures for included sectors.

As of reference year 2023, there have been changes to the statistical unit business unit. In addition, from April 2023, estimated revenue data is used on a monthly basis from declared VAT data to the Swedish Tax Agency for small and medium-sized enterprises in industries (SNI 07–33). The changes are introduced with the ambition to increase the quality and streamline the production of the functional statistics that describe individual activities in the economy, for example the production value of business. For more information see: Changes in statistics - Production value index - April 2023 on the product page.

Production Value Index

Revisions

When the Production Value Index is published for a new month, the indices for the two previous months are also revised, if new information has been added. Administrative data from the Swedish Tax Agency is used quarterly to increase the number of companies that are examined. This means that definitive quarterly statistics are based on a calculation on all the companies in the population. Administrative data is used every quarter to improve the quality of the Production Value Index and reduce the response burden. Normally, the material is revised between two and four months backwards, depending on when in the quarter the reference month falls. In connection with the publication of the first and second months in a quarter, the entire previous quarter is revised. The series, corrected for calendar and seasonal effects and trend estimates, is always revised from January 2010 and forward. Information regarding major revisions will be published at:

Production Value Index

Contributions to change in PVI, percentage units

Production value index, August 2023

Index and percentage change, calendar adjusted
NACE 2007 Sector March[1] April[2] May[2] June[3] July[3] August[4] July-August[5] Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 127.2 119.7 119.5 124 100.1 108.1 104.1 100
  Annual change, percent ‑0.5 1.7 0.1 ‑3.1 ‑2.2 0.7 ‑0.7  
  (Previous publication) ‑0.5 1.8 0.2 ‑3 ‑2      
B+C Industry 135 122.6 122.2 126.4 93.9 104 99 20.6
  Annual change, percent 0.6 4.8 4.3 ‑3 ‑5.1 4.7 ‑0.2  
  (Previous publication) 0.6 5.4 4.9 ‑2 ‑4      
D Electricity, gas, steam and hot water 117.9 98 89 76.4 78.4 86.8 82.6 6.1
  Annual change, percent ‑2.4 ‑5.7 ‑8 ‑14.1 ‑19 ‑10.5 ‑14.8  
  Construction ‑2.4 ‑5.6 ‑8 ‑14.1 ‑19      
E Waterworks, sewage and waste disposal 116.9 117.5 111.8 118 91 102.6 96.8 1.3
  Annual change, percent 6.7 16.3 8.5 4.1 ‑2.8 3.7 0.6  
  (Previous publication) 6.7 16.3 8.5 4.3 6.6      
F Construction 115.2 115.6 120.8 129.6 88.8 107.7 98.3 8.5
  Annual change, percent ‑4.6 ‑6.2 ‑6.5 ‑4.9 ‑6.5 ‑2 ‑4.1  
  (Previous publication) ‑4.6 ‑6.2 ‑6.5 ‑4.8 ‑4.7      
G-S (ex. K, O) Services (excluding financial and insurance services) 126.5 120.4 120.9 126.8 105.2 111.1 108.2 63.5
  Annual change, percent ‑0.6 1.9 0.6 ‑1.3 0.6 0.6 0.6  
  (Previous publication) ‑0.6 1.9 0.7 ‑1.4 0.1      

1) Data are not revised, but published statistics may be revised due to changes in seasonal adjustment or calendar adjustment models. 2) No revisions in survey data, but published statistics may be revised due to readjustment of register data. 3) Within period of revision for survey data. 4) Current period. 5) Mean index during the period, percentage changes compared to the corresponding period the previous year. 6) Share of 2022 value added.

Index and percentage change, seasonally adjusted
NACE 2007 Sector March[1] April[2] May[2] June[3] July[3] August[4] June-August[5] Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 119.4 120.8 120.2 118.0 118.5 119.1 118.5 100.0
  Monthly change, percent ‑1.0 1.2 ‑0.5 ‑1.8 0.4 0.5 ‑1.3  
  (Previous publication) ‑1.1 1.3 ‑0.5 ‑1.8 0.3      

1) Data are not revised, but published statistics may be revised due to changes in seasonal adjustment or calendar adjustment models. 2) No revisions in survey data, but published statistics may be revised due to readjustment of register data. 3) Within period of revision for survey data. 4) Current period. 5) Mean index during the period, percentage changes compared to the previous three-month period. 6) Share of 2022 value added.

Definitions and explanations

The Production Value Index (PVI) describes developments in the private sector production of goods and services each month. Production value is a measure used to calculate the GDP that includes net turnover from industry and service production, and the trade margin (revenue from sales minus costs of retail goods).

The PVI has been produced since the reference month November 2017 and replaces the Business Production Index. 

Next publishing will be

2023-11-10 at 08:00.

Statistical Database

More information is available in the Statistical Database

Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.

Statistical agency

Statistics Sweden

Enquiries

Karl Sahlberg

Telephone
+46 10 479 41 56
E-mail
karl.sahlberg@scb.se

Samuel Hederén

Telephone
+46 10 479 41 38
E-mail
samuel.hederen@scb.se