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Production Value Index, October 2017:

Increased private sector production in October

Statistical news from Statistics Sweden 2017-12-05 9.30

Production in the private sector increased by 4.1 percent in October compared to the same month of the previous year, in calendar adjusted figures. Compared to September, in seasonally adjusted figures, the production increased by 0.6 percent.

Production value increased in industry

Production in industry increased by 6.6 percent in September compared to the same month the previous year, in calendar adjusted figures. The industry sub-sectors that contributed the most to the increase in total private sector production were the industry for motor vehicles and machine industry, the former increasing by 17.9 percent and the latter increasing by 21.1 percent, both in fixed prices. They each contributed 0.5 percentage points to the total increase of private sector production in fixed prices. The industry for motor vehicles has had a positive yearly development for the last 12 months, in calendar adjusted figures.

Production value increased in services

Production in the service sector increased by 4.3 percentage points in October compared to the same month the previous year, in calendar adjusted prices. The service sub-sector that contributed the most to the increase in total private sector production was administrative and support services, with a contribution of 1.6 percentage points after an increase of 11.4 percent in fixed prices. The sub-sector has showed a continuous positive yearly development since 2014, in calendar adjusted prices.

Production value increased in construction

Production in the construction sector increased by 0.6 percent in calendar adjusted figures in October 2017, compared to the same month of the previous year. Construction’s share of value added across the entire private sector is 8.5 percent, and the sector contributed 0.1 percentage points to the total increase of private sector production in fixed prices.

Revisions

The figures for October are preliminary. When Production Value Index is published for a new reference month, the data for the preceding quarter are 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.

Contributions to change in PVI, percentage units
Production Value Index, October 2017

Index and percentage change, calendar adjusted
NACE 2007 Sector May[1] June[1] July[2] August[3] September[3] October[4] Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 108.5 114.1 92.8 98.8 112.8 115.6 100.0
  Annual change, percent 5.3 4.6 4.4 5.7 3.2 4.1  
  (Previous publication) 5.8 4.9 6.1 7.4 5.2    
                 
B+C Industry 109.3 119.5 86.6 93.3 117.1 118.1 21.5
  Annual change, percent 7.7 7.6 4.0 7.2 1.6 6.6  
  (Previous publication) 7.7 7.6 4.3 7.7 3.6    
                 
F Construction[7] 120.3 123.4 103.1 99.7 123.5 125.4 8.5
  Annual change, percent 10.4 11.7 11.0 9.2 4.6 0.6  
  (Previous publication) 15.7 17.5 17.5 15.6 5.9    
                 
G-S (ex. K, O) Services (excluding financial and insurance services) 107.9 112.3 93.8 101.3 111.7 114.7 65.9
  Annual change, percent 2.8 2.4 3.4 4.6 3.8 4.3  
  (Previous publication) 2.8 2.5 4.9 6.4 5.9    

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.

Index and percentage change, seasonally adjusted
NACE 2007SectorMay[1]June[1]July[2]August[3]September[3]October[4]August-October[5]Weight[6]
B-S (ex. K, O) Private sector, total (excluding financial and insurance services) 108.4 108.4 108.8 108.2 108.6 109.3 108.7 100.0
  Monthly change, percent 0.8 0.0 0.4 ‑0.6 0.4 0.6 0.2  
  (Previous publication) 1.1 0.1 1.0 ‑0.3 0.5      

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 indes during the period, percentage changes compared to the previous three-month period. 6) Share of 2016 value added.

Definitions and explanations

Production Value Index (PVI) describes the developments of private sector production of goods and services each month. It is a development of the older Business Production Index, and will replace this index from the publication in November 2017, reference period September 2017. The advantage of the new index compared to previous production indices are that it measures all production in the private sector as opposed to measuring goods production in industry and services production in the service sector, and that the results are published slightly earlier each month.

Production value is a measure used to calculate the GDP, and is made up of net turnover from industry and service production, as well as trade margin (revenue from sales minus costs of retail goods).

This statistical news item replaces the previous statistical news for Industry Production Index, Index of Service Production and Business Production Index.

Next publishing will be

2018-01-10 09:30

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