National accounts: Monthly GDP indicator, November 2024
GDP indicator up in November
Statistical news from Statistics Sweden 2025-01-10 8.00
Sweden’s GDP increased by 1.4 percent in November, seasonally adjusted and compared with the previous month, as shown by the preliminary compilation of the GDP indicator. Calander adjusted GDP was 2.1 percent higher than in the corresponding month of the preceding year.
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.
“November saw an upturn in economic activity with growth in both goods- and service producing industries as well as in general government production. ICT-services showed the largest growth figures among services while stronger manufacturing and a continued recovery in construction both contributed to the upturn for goods-producers”, says Mattias Kain Wyatt, economist at Statistics Sweden.
For more information about developments in different parts of the economy, see:
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 0.3 percent and corresponding development from the production side of 0.9 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of 0.6 percent.
November had one less working day compared with the corresponding month last year.
In accordance with the revision policy of the GDP indicator, only months in the current quarter are revised.
Published 10/01/2025 | Published 10/12/2024 | ||||||
---|---|---|---|---|---|---|---|
Production | Use | Reconciled | Production | Use | Reconciled | ||
October | 1.8 | 0.4 | 1.1 | 1.6 | 0.4 | 1.0 | |
November | 0.9 | 0.3 | 0.6 |
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 2024 will be published on 2025-01-29 at 08:00.
The full quarterly national accounts for the fourth quarter of 2024 will be published on 2025-02-28 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.