Sweden: Strongest Order Growth Since 2022

Total orders received by the Swedish industry jumped 23% year-on-year in November 2025, following a downwardly revised 11.9% growth in October and marking the sharpest increase since December 2022. Orders received from customers abroad soared (32.5% vs 4.4% in October), while orders received from customers in Sweden rose at a much softer pace (5.7% vs 22.9%). Among industrial groups, demand for capital goods grew significantly (70.6% vs 36.3%), whereas orders for energy-related goods declined further (-28.7% vs -22%). On a seasonally adjusted monthly basis, total orders increased by 11.8% in November, after an upwardly revised 4.9% gain in the previous month. Over the January-November period, total orders in industry were 8% higher than the corresponding period last year, with domestic orders rising by 3% and foreign orders climbing by 11.2%.