Industrial output shows strong growth

According to Statistics Finland, output of total industries adjusted for working days was 8.8 per cent higher in April 2010 than twelve months earlier. In March output was 2.4 per cent higher than one year before. In the first third of 2010 industrial output has grown by five per cent from one year back.

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

In April, seasonally adjusted output grew by 2.1 per cent from the previous month. In March output went up by 1.9 per cent from February. In February seasonally adjusted output fell by 2.6 per cent from January.

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

Among industries working day adjusted output grew by most, or by nearly 23 per cent, in the forest industry. After nearly eighteen months of decline growth was now also recorded in the metal industry. Its output went up by 9.3 per cent in April. In the chemical industry, output decreased by good 8 per cent in April. The main reason for the fallen the output of the chemical industry was a service shutdown in oil refining. Output adjusted for working days fell by most, or by just short of 17 per cent, in the food industry. The decline was mainly caused by industrial action.

Working day adjusted change in industrial output by industry 4/2009-4/2010, %, TOL 2008

Capacity utilisation rate in manufacturing went up again in April when it was 69 per cent, or just two percentage point higher than twelve months back. In the forest industry capacity utilisation rate was 84.8 per cent, and had risen by good 19 percentage points from one year back. Capacity utilisation rate in the metal industry was 66 per cent, having gone up by good three percentage points from one year back.

Estimation

Statistics Finland has increased the use of estimation and around ten per cent of the index for April was estimated. In the Electrical and electronics industry (26-27) estimation was used in the calculation of the April index. In addition, the Tax Administration’s payment control data are used to compile statistics on the production of enterprises with fewer than 50 employees. Enterprises with fewer than 50 employees account for around 13 per cent of total industries and these data cover nearly 70 per cent of the production of enterprises with fewer than 50 employees. These data are not at Statistics Finland's disposal by the release date of the volume index of industrial output. For this reason the data on these enterprises are estimated for the month the release relates to. The payment control data will be available when releasing data for the month for the second time, i.e. in the data for March.

Revised data for April will be published at 9 am on 9 July 2010 in connection with the industrial output data for May. 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, April. Statistics Finland

Inquiries: Kari Rautio (09) 1734 2479, Jukka Appelqvist (09) 1734 3391, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output grew by 8.8 per cent in April (10.6.2010)

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Updated 10.06.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. April 2010. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/04/ttvi_2010_04_2010-06-10_tie_001_en.html