Industrial stocks continued to decline

Industrial stocks decreased by SEK 2.6 billion during the fourth quarter compared to third quarter 2011, representing a decline of 1.4 percent in volume. When compared to the fourth quarter of 2010 the level of stocks increased by 6.2 percent.

After a decrease in the third quarter industrial stocks continued to decline with seasonal patterns during the fourth quarter. The decline in the fourth quarter was measured at SEK 2.6 billion compared to third quarter. Finished goods and products in processing decreased by SEK 3.6 billion. The level of stocks of input goods increased during the same period by SEK 1.0 billion. Compared with the fourth quarter of 2010, total stocks levels increased by 6.2 percent. The data for the fourth quarter are preliminary. During the third quarter of 2011 total stocks decreased by SEK 2.2 billion, is a revision downwards by SEK 0.5 billion from the previous publishing.

Motor vehicle industry and electronics industry decreased the most

Many industries contributed to the reduction of stock levels in the fourth quarter. The motor vehicle industry (NACE 29) and the electronics industry (NACE 26) accounted for the largest inventory reductions. Stock levels decreased by SEK 1.0 and 1.1 billion, or 6.6 percent and 4.7 percent. The petroleum products industry (NACE 19) showed an opposite trend where the level of stocks increased by SEK 1.0 billion or 14.3 percent in the fourth quarter.

Changes in the total industrial stock (2005 prices)

		Total changes in inventories
NACE Rev 2	INDUSTRY TITLE	Q4 2011	Q4 2011/ Q3 2011	Q3 2011	Q4 2010	Q4 2011/ Q4 2010
		Million SEK	Pct	Million SEK	Million SEK	Pct
B+C	Mines and quarries and manufacturing industry	-2 571	-1.4	-2 170	-3 765	6.2
-	Intermediate goods industry	-19	0.0	-269	640	4.5
-	Energy excl. NACE section D	1 042	14.3	185	-705	18.0
-	Capital goods industry	-2 872	-3.7	-1 612	-2 924	2.7
-	Non-durable consumer goods industry	-720	-2.5	-341	-757	19.0
-	Durable consumer goods industry	-2	-0.1	-132	-20	-1.1
B	Mines and quarries	32	3.0	146	-176	0.6
C	Manufacturing industry	-2 603	-1.4	-2 316	-3 590	6.2
10-12	Food product, beverage and tobacco industry	45	0.4	23	-646	8.2
13-15	Industry for textile and leather products	39	5.2	-125	-9	-34.4
16	Industry for wood and wood products	-525	-6.2	90	449	..
17	Industry for pulp, paper and paper products	236	2.0	-98	-101	11.9
18	Industry for printing and reproduction of recorded media	-28	-5.4	38	-22	-4.5
19	Industry for coke and refined petroleum products	1 042	14.3	185	-705	18.0
20	Industry for chemicals	154	2.2	-312	-52	4.8
21	Industry for basic pharmaceutical products and pharmaceutical preparations	-609	-4.0	-225	-61	38.2
22	Industry for rubber and plastic products	55	1.2	-94	371	7.2
23	Industry for other non-metallic mineral products	67	1.5	-99	-80	3.4
24	Industry för basic metals	120	0.7	95	347	7.5
25	Industry for manufacture of fabricated metal products, except machinery and equipment	-273	-2.5	523	189	-3.0
26	Industry for computer, electronic and optical products	-1 064	-4.7	247	-1 105	16.3
27	Industry for manufacture of electrical equipment	-309	-4.7	-283	-349	-1.3
28	Industry for machinery and equipment n.e.c.	-607	-2.1	-406	-552	6.7
29	Industry for motor vehicles	-1 010	-6.6	-565	-571	0.1
30	Industry for other transport equipment	87	1.2	-1 193	-630	62.8
31-33	Industry for other manufacturing, repair and installation of machinery amd equipment	-23	-0.4	-116	-63	-48.6

Definitions and explanations

The total industry stock is defined as the sum of stocks of input goods, stocks of products in processing, finished goods of own manufacturing and finished goods of foreign manufacturing. Total industry refers to division B+C according to NACE Rev.2.

All reported changes are derived from stocks of inventories at the end of the quarter valued at the price level of 2005, which means in constant prices unless otherwise mentioned, and do not refer to calendar day and seasonal adjusted data. The percentage changes are also derived from stocks of inventories in fixed prices and reported compared to previous quarter and the same quarter previous year. Revisions normally occur within the sample year, which starts from the fourth quarter previous year and ahead. However, in conjunction with the publication of quarters 1 and 2 the entire previous sample year is subject to revisions. The uncertainty is normally higher at the first publication of the second quarter due to lower response rates during the summer.