Industrial output fell by 24.0 per cent from the year before in July

According to Statistics Finland, the working day adjusted output of total industries (BCDE) was 24.0 per cent lower in July 2009 than twelve months earlier. In June, industrial output fell by 19.9 per cent year-on-year. Over the January to July period, industrial output has decreased by 23 per cent from the corresponding period in the year before. Over the same time period, output in manufacturing (C) has fallen by 26.5 per cent and the index point figure for January-July stands at 84.5 (2005=100).

Output continued to decline from twelve months back in all main industries in July. The largest decrease of good 36 per cent was recorded in the output of the electrical and electronics industry. In the metal industry output fell by good 32 per cent. The forest industry's output shrunk by nearly 33 per cent. In the chemical industry, output diminished by just under 15 per cent. In the food industry the decline in output amounted to 1.4 per cent.

Capacity utilisation rate in manufacturing (C) was 61.7 per cent in July, which was 15 percentage points lower than in last year's corresponding month. In the forest industry, capacity utilisation rate was 61.9 per cent, which was nearly 20 percentage points lower than one year ago.

Working day adjusted change in industrial output by industry 7/2008-7/2009, %, TOL 2008

*Metal industry excl. manufacture of electrical and electronic products

Seasonally adjusted change in industrial output (BCDE) from previous month, %, TOL 2008

Working day adjusted change in industrial output (BCDE) from corresponding month of previous year, %, TOL 2008

Estimation

In many months of the year the volume index of industrial output uses estimation in industry 26-27, Electrical and electronics industry. In this industry Statistics Finland estimates data 8 times a year. Not all of the data on this industry is at Statistics Finland's disposal at the time of publication. For example, estimated data for April-May became revised in August when data for June were released. As the weight of the industry (26-27) is 20 per cent in total industries, using estimation may influence the point figures and change percentages calculated for the volume index of industrial output even if previous data on other industries do not become revised.

Revised data for July will be published at 9 am on 9 October 2009 in connection with the release of industrial output data for August. Because of the method used, seasonally adjusted figures for previous months may change even if the original figures do not become revised. The seasonally adjusted figures will also be adjusted for working days.

Source: Volume Index of Industrial Output 2009, July. Statistics Finland

Inquiries: Mr Kari Rautio +358 9 1734 2479, volyymi.indeksi@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 10.9.2009

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2009. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2009/07/ttvi_2009_07_2009-09-10_tie_001_en.html