To main content

National accounts: Monthly GDP indicator, November 2022

GDP indicator decreased in November

Statistical news from Statistics Sweden 2023-01-10 8.00

Sweden’s GDP decreased by 0.5 percent in November, seasonally adjusted and compared with the previous month, as shown by the preliminary compilation of the GDP indicator.

The GDP indicator provides an early picture of the development of the gross domestic product, GDP. It is compiled on a monthly and quarterly basis with more limited and preliminary statistics than the regular quarterly national accounts. The monthly version of the indicator lies outside the official statistics and is classified as statistics under construction.

“The Swedish economy contracted in November with a broad based decline in manufacturing as well as in several major service producing industries” says Melker Pettersson Loberg, economist at Statistics Sweden.

For more information on private sector production, see the Production Value Index

In November, GDP was 0.7 percent higher than in the corresponding month a year ago. November had the same number of working days as the corresponding month last year.

GDP, seasonally adjusted volume development and index (2021 = 100)

Graph: GDP, seasonally adjusted volume development and index (2021 = 100)

Balancing and revisions

In a first step, the GDP indicator calculates two separate GDP outcomes from the production and use side of the economy. Then a reconciliation is made in which one side is adjusted downwards and the other side is adjusted upwards to arrive at a single final result. Before reconciliation, the statistical data in November showed actual GDP development from the use side of 1.1 percent and corresponding development from the production side of 0.3 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of 0.7 percent.

In accordance with the revision policy of the GDP indicator, only months in the current quarter are revised.

GDP, actual development from the production and use side and reconciled results in current and previous publications
  Published 10/01/2023 Published 07/12/2022
  Production Use Reconciled Production Use Reconciled
October 2.2 1.9 2.0 1.8 2.2 2.0
November 0.3 1.1 0.7      

Additional information

Time series and revision history for the GDP indicator.

For more information about the indicator, see Compilation of the Swedish GDP indicator.

Next publishing will be

The GDP indicator for December 2022 will be published on 2023-01-30 at 08:00.

The ordinary calculation of the fourth quarter 2022 will be published on 2023-02-28 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, National Accounts

Address
Solna strandväg 86
171 54 Solna
E-mail
nrinfo@scb.se

Enquiries

Melker Pettersson Loberg

Telephone
+46 10 479 43 74
E-mail
melker.petterssonloberg@scb.se

Mattias Kain Wyatt

Telephone
+46 10-479 43 56
E-mail
mattias.kain.wyatt@scb.se