Industrial output decreased by 15.2 per cent year-on-year in November

According to Statistics Finland, output of total industries adjusted for working days was 15.2 per cent lower in November 2009 than twelve months earlier. In October industrial output decreased by 19.4 per cent year-on-year. Over the January to November period, industrial output has fallen by 21.7 per cent from the corresponding period of the year before. Industrial output appears to have bottomed out as when adjusted for seasonal variation output has gone up in the October to November period.

Compared to twelve months back, output continued to decline in several main industries. The largest drop of nearly 28 per cent was recorded in the output of the electrical and electronics industry. In November, output fell by just under 22 per cent in the metal industry and by 4.1 per cent in the forest industry. In the chemical industry output fell by 1.2 per cent in November whereas in October it still declined by 14 per cent from twelve months back. Output in the food industry grew by 2.4 per cent in November from the respective month of 2008.

Working day adjusted change in industrial output by industry 11/2008-11/2009, %, 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

Capacity utilisation rate in manufacturing was 73.3 per cent in November, which was just under 4 percentage points lower than in last year's corresponding month. In the forest industry, capacity utilisation rate was 76.2 per cent, which was only 0.4 percentage points lower than in November 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 are at Statistics Finland's disposal at the time of publication. As the weight of the industry (26-27) is under 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 months' data on other industries do not become revised.

Revised data for November 2009 will be published at 9 am on 10 February 2010 in connection with the industrial output data for December 2009. 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, November. Statistics Finland

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

Director in charge: Hannele Orjala

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Last updated 8.1.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2009. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2009/11/ttvi_2009_11_2010-01-08_tie_001_en.html