Production Value Index, March 2020
Private sector production decreased in March
Statistical news from Statistics Sweden 2020-05-05 9.30
Private sector production decreased by 2.2 percent in March 2020 compared with March 2019, calendar adjusted. Private sector production decreased by 1.8 percent compared with February 2020, seasonally adjusted.
Production value in industry decreased
Production in the industry sector decreased by 0.1 percent in March 2020 compared with the corresponding month a year ago, in calendar adjusted figures. The chemical and pharmaceutical industry, which accounted for the largest positive contribution to the total private sector development, increased by 22.9 percent in fixed prices, thereby contributing 0.6 percentage points. The motor vehicle industry, which accounted for the largest negative contribution to the total private sector development, decreased by 4.4 percent in fixed prices, thereby contributing -0.2 percentage points.
Production value in services decreased
Production in the services sector decreased by 2.8 percent in March 2020 compared with the corresponding month a year ago, in calendar adjusted figures. Real estate services, which accounted for the largest positive contribution to the total private sector development, increased by 4.2 percent in fixed prices, thereby contributing 0.5 percentage points. Accomodation and food services, which accounted for the largest negative contribution to the total private sector development, decreased by 31.0 percent in fixed prices, thereby contributing -0.7 percentage points.
Production value in construction decreased
Production in the construction sector decreased by 4.9 percent in March 2020 compared with the corresponding month a year ago, in calendar adjusted figures. Production in this sector decreased by 3.8 percent in fixed prices, not calendar adjusted. The construction sector, which accounts for 9.3 percent of total value added in the private sector, contributed -0.4 percentage points to the development in total private sector production.
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. From April 2015, a new method of calculating definitive statistics applies. The new method primarily entails that 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.
| NACE 2007 | Sector | October[1] | November[1] | December[1] | January[3] | February[3] | March[4] | January-March[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 120.3 | 120.3 | 123.8 | 108.0 | 109.2 | 117.5 | 111.6 | 100.0 |
| Annual change, percent | 0.3 | 1.4 | ‑0.6 | 1.9 | 0.9 | ‑2.2 | 0.1 | ||
| (Previous publication) | 0.3 | 1.4 | ‑0.7 | 1.9 | 0.6 | ||||
| B+C | Industry | 119.1 | 120.2 | 111.9 | 106.5 | 109.3 | 124.7 | 113.5 | 21.6 |
| Annual change, percent | ‑2.1 | 0.5 | ‑2.6 | 0.3 | ‑0.3 | ‑0.1 | 0.0 | ||
| (Previous publication) | ‑2.1 | 0.5 | ‑2.7 | 0.3 | ‑0.2 | ||||
| F[7] | Construction | 125.8 | 127.4 | 116.2 | 98.1 | 111.2 | 114.5 | 107.9 | 9.3 |
| Annual change, percent | 5.2 | 5.7 | 6.0 | ‑7.5 | ‑6.4 | ‑4.9 | ‑6.2 | ||
| (Previous publication) | 5.1 | 5.6 | 5.9 | ‑8.1 | ‑7.9 | ||||
| G-S (ex. K, O) | Services (excluding financial and insurance services) | 120.8 | 119.7 | 128.4 | 108.7 | 108.4 | 115.3 | 110.8 | 64.9 |
| Annual change, percent | 0.2 | 0.8 | ‑0.8 | 3.5 | 2.4 | ‑2.8 | 0.9 | ||
| (Previous publication) | 0.2 | 0.8 | ‑0.9 | 3.7 | 2.2 |
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 2018 value added. 7) Historic data for construction are revised at the end of every quarter.
| NACE 2007 | Sector | October[1] | November[1] | December[1] | January[3] | February[3] | March[4] | January-March[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 113.5 | 114.0 | 113.4 | 114.4 | 114.1 | 112.0 | 113.5 | 100.0 |
| Monthly change, percent | 0.2 | 0.4 | ‑0.5 | 0.9 | ‑0.3 | ‑1.8 | ‑0.1 | ||
| (Previous publication) | 0.2 | 0.5 | ‑0.3 | 0.9 | ‑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 2018 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).
PVI has been produced since the reference month September 2017 and replaces the Business Production Index.
Next publishing will be
2020-06-04 at 09:30.
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.