Production value index, May 2021
Private sector production decreased in May 2021
Statistical news from Statistics Sweden 2021-07-07 9.30
Private sector production decreased by 0.2 percent in May 2021 compared with April 2021 in seasonally adjusted figures, while it increased by 9.7 percent compared with May 2020 in calendar adjusted figures.
Production value in industry increased
Production in the industry sector increased by 24.2 percent in May 2021 compared with the corresponding month a year ago, in calendar adjusted figures. The largest upward contribution to total private sector development, 2.3 percentage points, came from the motor vehicle industry, which increased by 78.0 percent in fixed prices. The largest downward contribution to total private sector development, just under a rounded 0.0 percentage points, came from the electrical equipment industry, which decreased by 1.7 percent in fixed prices.
Production value in services increased
Production in the services sector increased by 8.4 percent in May 2021 compared with the corresponding month a year ago, in calendar adjusted figures. The largest upward contribtion to total private sector development, 2.1 percentage points, came from wholesale and retail trade, which increased by 14.0 percent in fixed prices. The largest downward contribution to total private sector development, -0.3 percentage points, came from art, entertainment and recreational services, which decreased by 14.5 percent in fixed prices.
Production value in construction decreased
Production in the construction sector decreased by 5.2 percent in May 2021 compared with the corresponding month a year ago, in calendar adjusted figures. In this sector, production decreased by 3.7 percent in fixed prices, not calendar adjusted. The construction sector, which accounts for 9.9 percent of total value added in the private sector, made a negative contribution of -0.4 percentage points to the development in total private sector production.
The COVID-19 outbreak started to significantly impact production in March 2020, which should be taken into account when comparing annual development statistics.
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:
| NACE 2007 | Sector | December[1] | January[2] | February[2] | March[3] | April[3] | May[4] | Weight[6] |
|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 124.6 | 102.9 | 106.5 | 122.3 | 114.9 | 113.9 | 100.0 |
| Annual change, percent | ‑2.3 | ‑4.1 | ‑2.1 | 3.6 | 11.1 | 9.7 | ||
| (Previous publication) | ‑2.3 | ‑4.1 | ‑2.1 | 3.6 | 10.7 | |||
| B+C | Industry | 121.5 | 105.5 | 112.1 | 134.1 | 119.5 | 119.2 | 20.7 |
| Annual change, percent | 7.2 | ‑0.8 | 2.4 | 5.6 | 27.1 | 24.2 | ||
| (Previous publication) | 7.2 | ‑0.8 | 2.4 | 5.6 | 26.4 | |||
| F[7] | Construction | 148.4 | 88.9 | 111.5 | 118.1 | 122.6 | 121.4 | 9.9 |
| Annual change, percent | ‑4.7 | ‑4.5 | 1.8 | ‑1.8 | ‑4.1 | ‑5.2 | ||
| (Previous publication) | ‑4.7 | ‑4.5 | 1.8 | ‑1.8 | ‑5.5 | |||
| G-S (ex. K, O) | Services (excluding financial and insurance services) | 123.1 | 103.0 | 103.8 | 119.4 | 112.7 | 112.3 | 65.9 |
| Annual change, percent | ‑4.1 | ‑4.8 | ‑4.0 | 4.5 | 9.3 | 8.4 | ||
| (Previous publication) | ‑4.1 | ‑4.8 | ‑4.0 | 4.5 | 9.2 |
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 2020 value added.
| NACE 2007 | Sector | December[1] | January[2] | February[2] | March[3] | April[3] | May[4] | March-May[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 112.5 | 112.3 | 113.5 | 114.4 | 114.3 | 114.1 | 114.3 | 100.0 |
| Monthly change, percent | ‑0.2 | ‑0.2 | 1.1 | 0.8 | ‑0.1 | ‑0.2 | 1.3 | ||
| (Previous publication) | ‑0.2 | ‑0.2 | 1.1 | 0.7 | ‑0.2 |
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 previous three-month period. 6) Share of 2020 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 October 2017 and replaces the Business Production Index.
Next publishing will be
2021-08-10 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.