Production Value Index, December 2017:
Private sector production increased in December
Statistical news from Statistics Sweden 2018-02-06 9.30
Private sector production increased by 5.3 percent in December compared with the same month of the previous year, in calendar adjusted figures. Compared with November, production decreased by 1.0 percent, in seasonally adjusted figures. Private sector production increased by 5.8 percent in the fourth quarter 2017 (October to December), compared with the same period of the previous year, in calendar adjusted figures.
Production value increased in industry
Production in industry increased by 7.5 percent in calendar adjusted figures in December compared with the same period of the previous year. The motor vehicle industry sub-sector, which increased by 9.2 percent in fixed prices, contributed the most, 0.3 percentage points, to the increase in total private sector production. The motor vehicle industry has had a positive yearly development since September 2016, in calendar adjusted figures.
Production value in services increased
Production in the service sector increased by 2.6 percent in calendar adjusted figures in December compared with the same period of the previous year. The administrative, technological and support services service sub-sector, which increased by 7.9 percent in fixed prices, contributed the most, 1.1 percentage points, to the increase in total private sector production. This sub-sector has had a continuous positive yearly development since January 2014, in calendar adjusted prices.
Production value in construction increased
Production in the construction sector increased by 5.3 percent in calendar adjusted figures in December, compared with the same period of the previous year. Construction’s share of value added across the entire private sector is 8.5 percent, and the sector contributed 0.2 percentage points to the total increase of private sector production in fixed prices.
Revisions
The figures for December are preliminary. In connection with the December 2017 publication, statistics on the motor vehicle industry, linked aggregates and total industry were revised from January 2016 as a result of new information to Statistics Sweden. In addition, the model-estimated historical information on total industry has also been revised for the months of January between 2010 and 2014 in fixed prices, which impacts seasonal adjustment throughout the series. This is due to a calculation error discovered in the backcasting model. When the Production Value Index is published for a new reference month, the data for the preceding quarter is also revised. The main reasons for such revisions are late answers and revised data from respondents. The calendar adjusted, seasonally adjusted and trend series are always revised from January 2010 up to the current reference period.
| NACE 2007 | Sector | July[1] | August[1] | September[1] | October[3] | November[3] | December[4] | October- December[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex, K, O) | Private sector, total (excluding financial and insurance services) | 92.7 | 98.9 | 113.1 | 116.9 | 118.1 | 121.8 | 118.9 | 100.0 |
| Annual change, percent | 4.2 | 5.5 | 3.2 | 5.1 | 7.2 | 5.3 | 5.8 | ||
| (Previous publication) | 4.4 | 5.7 | 3.2 | 4.9 | 6.6 | ||||
| B+C | Industry | 86.6 | 93.5 | 118.7 | 119.8 | 118.5 | 112.4 | 116.9 | 20.0 |
| Annual change, percent | 2.9 | 6.7 | 2.0 | 6.8 | 6.2 | 7.5 | 6.8 | ||
| (Previous publication) | 4.0 | 7.4 | 1.6 | 6.6 | 6.1 | ||||
| F [7] | Construction | 103.1 | 100.0 | 124.2 | 126.3 | 129.4 | 120.2 | 125.3 | 10.0 |
| Annual change, percent | 11.0 | 9.5 | 5.2 | 1.3 | 5.4 | 5.3 | 4.0 | ||
| (Previous publication) | 11.0 | 9.2 | 4.8 | 1.0 | 4.3 | ||||
| G-S (ex, K, O) | Services (excluding financial and insurance services) | 93.8 | 101.2 | 111.6 | 115.9 | 116.9 | 126.1 | 119.6 | 70.0 |
| Annual change, percent | 3.3 | 4.5 | 3.7 | 5.3 | 7.5 | 2.6 | 5.0 | ||
| (Previous publication) | 3.4 | 4.7 | 3.8 | 5.3 | 7.1 |
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 indes during the period, percentage changes compared to the corresponding period the previous year. 6) Share of 2016 value added. 7) Historic data for construction are revised at the end of every quarter.
| NACE 2007 | Sector | July[1] | August[1] | September[1] | October[3] | November[3] | December[4] | October- December[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 108.6 | 108.4 | 109.7 | 110.3 | 112.9 | 111.8 | 111.7 | 100.0 |
| Monthly change, percent | 0.4 | ‑0.2 | 1.2 | 0.5 | 2.4 | ‑1.0 | 2.5 | ||
| (Previous publication) | 0.4 | ‑0.2 | 0.9 | 0.5 | 1.3 |
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 indes during the period, percentage changes compared to the previous three-month period. 6) Share of 2016 value added.
Definitions and explanations
The Production Value Index (PVI) describes developments in the private sector production of goods and services each month. It is a progression of the older Business Production Index, and will replace this index from the publication in November 2017, reference period September 2017. The advantages of the new index compared to previous production indices are that it measures all production in the private sector, rather than measuring goods production in industry and services production in the service sector, and that the results are published slightly earlier in the month.
Production value is a measure used to calculate the GDP, and comprises net turnover from industry and service production, and the trade margin (revenue from sales minus costs of retail goods).
This statistical news replaces the previous statistical news for the Industry Production Index, the Index of Service Production and the Business Production Index.
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2018-03-06 09:30
Statistical Database
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Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.