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National accounts: Monthly GDP indicator, January 2022

GDP indicator decreased in January

Statistical news from Statistics Sweden 2022-03-09 8.00

Sweden’s GDP decreased by 0.3 percent in January, seasonally adjusted and compared with the previous month, as shown by the preliminary compilation of the GDP indicator.

The GDP indicator provides an early picture of the development of the gross domestic product, GDP. It is compiled on a monthly and quarterly basis with more limited and preliminary statistics than the regular quarterly national accounts. The monthly version of the indicator lies outside the official statistics and is classified as statistics under construction.

“After four months of growth, the development in January turned slightly downwards, says Melker Loberg, statistician at Statistics Sweden.

Economic activity was 4.6 percent higher in January 2022, calendar-adjusted, than in January 2021. This month had one more working day than the corresponding month a year ago.

GDP, seasonally adjusted volume development and index (2020 = 100)

diagram

Balancing and revisions

In a first step, the GDP indicator calculates two separate GDP outcomes from the production and use side of the economy. Then a reconciliation is made in which one side is adjusted downwards and the other side is adjusted upwards to arrive at a single final result. Before reconciliation, the statistical data in January showed actual GDP development from the use side of 6.2 percent and corresponding development from the production side of 6.0 percent, compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in reconciled actual GDP development of 6.1 percent.

In accordance with the revision policy of the GDP indicator, only months in the current quarter are revised.

GDP, actual development from the production and use side and reconciled results in current and previous publications
 Published on 9 March 2022
 ProductionUseReconciled
January 6.0 6.2 6.1

Additional information

Time series and revision history for the GDP indicator.

For more information about the indicator, see Compilation of the Swedish GDP indicator.

Next publishing will be

The GDP indicator for February 2022 will be published on 2022-04-06 at 08:00.

The ordinary calculation of the first quarter 2022 will be published on 2022-05-30 at 08:00.

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.

Statistical agency and producer

Statistics Sweden, National Accounts

Address
Solna strandväg 86
171 54 Solna
E-mail
nrinfo@scb.se

Enquiries

Melker Pettersson Loberg

Telephone
+46 10 479 43 74
E-mail
melker.petterssonloberg@scb.se

Neda Shahbazi

Telephone
+46 10 479 40 09
E-mail
Neda.Shahbazi@scb.se