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Production Value Index, May 2019

Private sector production increased in May

Statistical news from Statistics Sweden 2019-07-05 9.30

Private sector production increased by 2.3 percent in May compared with the same month of the previous year, in calendar adjusted figures. Production decreased by 0.1 percent compared with April, in seasonally adjusted figures.

Production value in industry increased

Production in the industry sector increased by 1.6 percent in May in calendar adjusted figures compared with the same period of the previous year. The chemical and pharmaceutical industry increased by 11.2 percent in fixed prices and accounted for the largest contribution, 0.3 percentage points, to the development in total private sector production.

Production value in services increased

Production in the service sector increased by 1.8 percent in May in calendar adjusted figures compared with the same period of the previous year. Information and communication companies increased by 4.1 percent in fixed prices and contributed the most, 0.4 percentage points, to the development in total private sector production.

Production value in construction increased

Production in the construction sector increased by 8.3 percent in May in calendar adjusted figures compared with the same period of the previous year. The construction sector, which accounts for 8.6 percent of total value added in the private sector, increased production in fixed prices, not calendar adjusted, by 8.3 percent and increased total development in private sector production in fixed prices by 0.7 percentage points.

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 applies. The new method primarily entails that administrative data from the Swedish Tax Agency is used quarterly to increase the number of companies that are examined. This means that definitive quarterly statistics are based on a calculation on 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. Normally, the material is revised between two and four months backwards, depending on 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. Information regarding major revisions will be published at:

Production Value Index

Contributions to change in PVI, percentage units
Production Value Index, May 2019

Index and percentage change, calendar adjusted
NACE 2007 Sector December[1] January[2] February[2] March[3] April[3] May[4] April-May[5] Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 125.3 106.3 108.5 120.5 114.8 115.4 115.1 100.0
  Annual change, percent 5.0 2.8 3.4 2.8 4.3 2.3 3.3  
  (Previous publication) 5.0 3.0 3.5 2.8 4.2      
B+C Industry 115.1 106.1 109.5 124.9 114.3 115.6 115.0 22.0
  Annual change, percent 3.2 2.7 2.9 ‑0.7 3.7 1.6 2.7  
  (Previous publication) 3.1 2.7 2.9 ‑0.6 3.3      
F[7] Construction 109.9 109.6 123.8 125.0 122.6 119.4 121.0 8.8
  Annual change, percent ‑3.2 5.4 11.6 14.1 13.5 8.3 10.9  
  (Previous publication) ‑3.2 6.4 11.9 14.4 13.5      
G-S (ex. K, O) Services (excluding financial and insurance services) 127.9 105.6 105.6 118.6 114.5 115.7 115.1 65.1
  Annual change, percent 3.3 2.4 2.5 2.5 3.4 1.8 2.6  
  (Previous publication) 3.3 2.4 2.5 2.4 3.5      

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 2018 value added. 7) Historic data for construction are revised at the end of every quarter.

Index and percentage change, seasonally adjusted
NACE 2007 Sector December[1] January[2] February[2] March[3] April[3] May[4] March-May[5] Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 114.3 113.7 114.4 114.1 114.5 114.4 114.5 100.0
  Monthly change, percent 0.8 ‑0.5 0.6 ‑0.3 0.4 ‑0.1 0.2  
  (Previous publication) 0.8 ‑0.4 0.6 ‑0.3 0.6      

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 2018 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 replaces this index from the publication in November 2017 onwards, with the reference month September 2017. The advantages of the new index compared with 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 services sector, and that the results are published slightly earlier in the month.

Production value is a measure used to calculate the GDP that includes 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

2019-08-06 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.

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