National accounts: Monthly GDP indicator, September 2021
GDP indicator: Activity increased in September
Statistical news from Statistics Sweden 2021-10-28 9.30
Sweden’s GDP increased by 1.6 percent in September, seasonally adjusted and compared with the previous month, as shown in the preliminary compilation of the GDP indicator. For the third quarter as a whole, GDP increased by 1.8 percent, seasonally adjusted and compared with the previous quarter.
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.
In September, GDP increased by 3.3 percent compared with the corresponding month a year ago. For the third quarter as a whole, GDP increased by 4.7 percent compared with the corresponding quarter a year ago. Both September and the third quarter as a whole had the same number of working days as the corresponding periods the previous year.
“After a weak August, GDP rebounded in September. Looking at the quarter as a whole, a strong July led to this upturn,” says Neda Shahbazi, statistician at Statistics Sweden.
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 September showed actual GDP development from the use side of 4.4 percent and corresponding development from the production side of 4.7 percent, both compared with the corresponding month a year ago. In line with ordinary balancing procedures, this results in a reconciled actual GDP development of 4.5 percent ahead of benchmarking to quarterly GDP growth.
For the third quarter as a whole, actual GDP development was 3.8 percent from the use side and 5.6 percent from the production side compared with the corresponding quarter a year ago. This resulted in actual GDP growth of 4.7 percent.
In accordance with the revision policy for the GDP indicator, only months in the current quarter, that is, July and August, have been revised.
| Published on 28 October 2021 | Published on 6 October 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Production | Use | Reconciled | Production | Use | Reconciled | ||
| July | 7.1 | 6.1 | 6.6 | 7.5 | 5.8 | 6.7 | |
| August | 4.1 | 3.0 | 3.5 | 4.2 | 3.2 | 3.7 | |
| September | 4.7 | 4.4 | 4.5 | ||||
| Third quarter | 5.6 | 3.8 | 4.7 | ||||
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 October 2021 will be published on 2021-12-07 at 09:30.
The ordinary calculation of the third quarter 2021 will be published on 2021-11-29 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.