Industrial output was in January on level with the previous year

According to Statistics Finland, output of total industries adjusted for working days was in January 2010 on the same level as twelve months earlier. January data indicate that industrial output did not yet take off into long-awaited growth.

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

Seasonally adjusted output fell in January by 1.8 per cent compared with the previous month. The slight growth having started at the end of last year halted in January.

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

The strong growth of output in the forest industry also continued in January, being 13.1 per cent higher than in last year’s January. Output in the chemical industry also grew. In January output adjusted for working days exceeded last year's level by 4.3 per cent. Production of electricity and heat grew by 12 per cent from one year ago. Output in the electrical and electronics industry was almost unchanged from the year before. Among the main industries, the biggest fall of -11.2 per cent was recorded in the metal industry, excl. manufacture of electrical and electronic products. Output in the food industry adjusted for working days contracted by 2.3 per cent.

Working day adjusted change in industrial output by industry 1/2009-1/2010, %, TOL 2008

Capacity utilisation rate in manufacturing was 72.8 per cent in January. One year before it was 68 per cent. Capacity utilisation rate in the forest industry rose in January to 78.1 per cent, having been around ten percentage points lower one year previously. However, capacity utilisation rate in the forest industry is still around seven percentage points down on the average for the 2000s. Capacity utilisation rate in the chemical industry also rose from one year before.

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 nearly 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 January will be published on 9 April 2010 at 9 am in connection with the industrial output data for February. 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 2010, January. Statistics Finland

Inquiries: Aki Savolainen (09) 1734 2703, Kari Rautio (09) 1734 2479, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output was in January on level with the previous year (10.3.2010)

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Updated 10.03.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January 2010. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/01/ttvi_2010_01_2010-03-10_tie_001_en.html