Production value index, October 2024
Private sector production decreased in October 2024
Statistical news from Statistics Sweden 2024-12-10 8.00
Private sector production decreased by 0.8 percent in October 2024 compared with September 2024 in seasonally adjusted figures, and increased by 0.2 percent compared with October 2023 in calendar adjusted figures.
Production value in industry decreased
Production in the industry sector decreased by 0.9 percent in October compared with September, measured in seasonally adjusted figures. Compared with the corresponding month last year, production decreased by 2.0 percent, measured in working day adjusted figures. Of the largest manufacturing industries, the industry for paper and paperproducts showed the largest positive development year-on-year, with an increase of 2.6 percent. Compared with September, production increased with 3.1 percent. The motor vehicle industry was the industry with the largest negative development year-on-year among the largest manufacturing industries, with a decrease of 9.9 percent. Compared with September production increased by 0.3 percent.
Production value in services decreased
Production in the services sector decreased by 0.7 percent in October compared with September, measured in seasonally adjusted figures. Compared with October 2023, production increased by 1.4 percent, measured in working day adjusted figures. Of the largest service industries, information and communication services showed the largest positive development year-on-year, with an increase of 7.8 percent. Compared with September, production increased by 0.7 percent. Transportation and storage was the industry with the largest negative development compared to October 2023 among the largest service industries, with a decrease of 7.2 percent. Compared with September production decreased by 1.5 percent.
Production value in construction increased
Production in the construction sector increased by 0.6 percent in October compared with September, measured in seasonally adjusted figures. Compared with October 2023 production decreased by 2.7 percent. The construction sector accounts for 9.2 percent of total value added in the private sector.
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. The development for these industries can be seen in the table 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.
Revisions
When publishing the reference month September 2024, changes are implemented that aim to increase the quality of the statistics. The changes involve revisions, in most cases small, from April 2018 to August 2024 in several industries and aggregates. Part of this improvement is due to the enhancement of methods for constant price calculations from January 2022 and onwards, which affect the industries of Education (P), Human health and social work activities (Q), Arts, entertainment and recreation (R) and Other service activities (S) and all aggregates that include these activities.
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 | May[1] | June[1] | July[2] | August[3] | September[3] | October[4] | Weight[6] |
|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 102.5 | 108.3 | 85.0 | 94.0 | 107.1 | 110.3 | 100 |
| Annual change, percent | ‑0.7 | 0.7 | ‑1.6 | 0.5 | 1.4 | 0.2 | ||
| (Previous publication) | ‑0.7 | 0.7 | ‑1.3 | 0.9 | 2.4 | |||
| B+C | Industry | 101.3 | 109.1 | 78.3 | 85.8 | 110.7 | 109.1 | 21.1 |
| Annual change, percent | ‑4.1 | ‑2.1 | ‑3.6 | ‑4.1 | ‑0.6 | ‑2.0 | ||
| (Previous publication) | ‑4.1 | ‑2.1 | ‑3.7 | ‑4.4 | ‑1.0 | |||
| D | Electricity, gas, steam and hot water | 89.2 | 79.2 | 79.9 | 90.0 | 85.8 | 98.7 | 3.7 |
| Annual change, percent | 4.2 | 7.8 | 5.8 | 7.7 | 10.0 | ‑3.7 | ||
| (Previous publication) | 4.2 | 7.8 | 5.8 | 7.7 | 10.0 | |||
| E | Waterworks, sewage and waste disposal | 98.5 | 114.7 | 86.2 | 90.2 | 105.2 | 108.5 | 1.0 |
| Annual change, percent | ‑3.3 | 6.6 | ‑5.6 | ‑13.1 | ‑4.9 | ‑0.4 | ||
| (Previous publication) | ‑3.3 | 6.6 | 0.1 | ‑8.4 | 0.7 | |||
| F | Construction | 89.4 | 99.3 | 65.5 | 83.9 | 91.8 | 102.0 | 9.2 |
| Annual change, percent | ‑8.5 | ‑4.9 | ‑7.2 | ‑0.8 | ‑3.4 | ‑2.7 | ||
| (Previous publication) | ‑8.5 | ‑4.8 | ‑6.7 | ‑0.7 | 1.3 | |||
| G-S (ex. K, O) | Services (excluding financial and insurance services) | 105.8 | 111.0 | 90.5 | 98.4 | 109.5 | 112.6 | 65.0 |
| Annual change, percent | 1.0 | 0.9 | ‑0.5 | 1.8 | 1.8 | 1.4 | ||
| (Previous publication) | 1.1 | 1.0 | ‑0.3 | 2.2 | 2.6 |
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 2023 value added.
| NACE 2007 | Sector | May[1] | June[1] | July[2] | August[3] | September[3] | October[4] | August-October[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 102.9 | 102.9 | 101.3 | 103.2 | 103.9 | 103.1 | 103.4 | 100.0 |
| Monthly change, percent | 0.6 | 0.0 | ‑1.6 | 1.9 | 0.7 | ‑0.8 | 1.0 | ||
| (Previous publication) | 0.6 | 0.1 | ‑1.4 | 2.0 | 1.1 |
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 previous three-month period. 6) Share of 2023 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
2025-01-10 at 08:00.
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.