Production Value Index, June 2018:
Private sector production increased in June
Statistical news from Statistics Sweden 2018-08-07 9.30
Private sector production increased by 4.1 percent in June compared with the same month of the previous year, in calendar adjusted figures. Production increased by 0.3 percent compared with May, in seasonally adjusted figures.
Production value in industry increased
Production in the industry sector increased by 5.7 percent in June in calendar adjusted figures, compared with the same period of the previous year. The industry for pharmaceuticals and chemicals, which increased by 14.8 percent in fixed prices, contributed the most, 0.4 percentage points, to the increase in total private sector production. This subsector experienced its largest growth since June 2017, in calendar adjusted figures.
Production value in services increased
Production in the service sector increased by 4.1 percent in June in calendar adjusted figures, compared with the same period of the previous year. Wholesale trade, except for the motor vehicles and motorcycles subsector, increased by 5.3 percent in fixed prices and contributed the most, 0.4 percentage points, to the increase in total private sector production. This subsector has experienced a continuous positive yearly development since June 2015, in calendar adjusted figures.
Production value in construction decreased
Production in the construction sector decreased by 0.9 percent in June in calendar adjusted figures, compared with the same period of the previous year. The construction sector’s share of value added across the entire private sector was 8.6 percent, and this sector contributed -0.2 percentage points to the total increase of private sector production in fixed prices.
Revisions
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. From April 2015, a new method of calculating definitive statistics was introduced. The new method primarily entails that administrative data from the Swedish Tax Agency is used quarterly to increase the number of companies that are investigated. This means that definitive quarterly statistics are based on a calculation for all the companies in the population. The reason for using administrative data every quarter is to improve the quality of the Production Value Index and reduce the response burden. Usually the material is revised between two and four months backwards, depending on where 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 1991 and forward.
| NACE 2007 | Sector | January[1] | February[1] | March[1] | April[3] | May[3] | June[4] | April-June[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 102.0 | 103.9 | 116.1 | 110.6 | 113.0 | 118.9 | 114.2 | 100.0 |
| Annual change, percent | 2.7 | 3.8 | 2.7 | 2.8 | 4.0 | 4.1 | 3.6 | ||
| (Previous publication) | 2.7 | 3.8 | 2.7 | 3.2 | 4.0 | ||||
| B+C | Industry | 102.6 | 105.5 | 124.8 | 109.7 | 114.7 | 126.2 | 116.9 | 21.9 |
| Annual change, percent | 6.2 | 3.9 | 5.5 | 2.6 | 4.7 | 5.7 | 4.4 | ||
| (Previous publication) | 6.2 | 3.9 | 5.5 | 2.6 | 3.0 | ||||
| F[7] | Construction | 109.7 | 118.6 | 118.3 | 117.5 | 121.1 | 123.4 | 120.7 | 8.6 |
| Annual change, percent | 3.7 | 4.3 | 0.0 | ‑5.0 | 0.2 | ‑0.9 | ‑1.9 | ||
| (Previous publication) | 3.3 | 4.0 | 0.9 | ‑2.7 | 3.2 | ||||
| G-S (ex. K, O) | Services (excluding financial and insurance services) | 100.6 | 100.8 | 113.9 | 109.7 | 112.5 | 116.9 | 113.0 | 65.6 |
| Annual change, percent | 1.9 | 3.7 | 3.5 | 3.5 | 4.3 | 4.1 | 4.0 | ||
| (Previous publication) | 1.9 | 3.7 | 3.5 | 3.7 | 4.4 |
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 2017 value added. 7) Historic data for construction are revised at the end of every quarter.
| NACE 2007 | Sector | January[1] | February[1] | March[1] | April[3] | May[3] | June[4] | April-June[5] | Weight[6] |
|---|---|---|---|---|---|---|---|---|---|
| B-S (ex. K, O) | Private sector, total (excluding financial and insurance services) | 109.6 | 110.2 | 110.2 | 110.3 | 111.8 | 112.1 | 111.4 | 100.0 |
| Monthly change, percent | ‑0.3 | 0.5 | 0.0 | 0.1 | 1.4 | 0.3 | 1.3 | ||
| (Previous publication) | ‑0.4 | 0.5 | 0.0 | 0.2 | 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 2017 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.
Next publishing will be
2018-09-05 at 09:30.
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.