Swedish economy on the up

The Activity Index - an aggregate of five economic variables including the index for industrial production, the number of hours worked for employees in the government sector, sales in the retail trade, and the imports and exports of goods – increased in April, according to a report by Statistics Sweden.

The Activity Index, which gauges activity in the Swedish economy, increased 0.4 percent, which corresponds to an annual rate of 5.4 percent, SCB reported.

The increase was affected by increased industrial production and stable retail sales growth.

The change in the trend for the period April 2005 to April 2006 was 5.1 percent. The seasonally adjusted index went up by 0.3 percent in April compared to March.

The index is calibrated to GDP measured as an index (Year 2000=100) so that there is no bias for any quarter for ex-post actual data. Estimates of the trend and the seasonal adjusted values of the Activity index may differ from the corresponding for GDP.