Industrial output went up in August

According to Statistics Finland, output of total industries adjusted for working days was 6.3 per cent higher in August 2010 than twelve months earlier. In July output was 2.3 per cent higher than one year earlier.

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

In August, seasonally adjusted output went up by 2.7 per cent from the previous month. In July, output decreased by 3.9 per cent from the previous month. In June, seasonally adjusted output grew by 2.6 per cent from May. In May, seasonally adjusted output increased by 3.1 per cent from April.

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

Most of the main industries showed growth in August. The biggest increase of 15.8 per cent was recorded in the output of the metal industry (excl. manufacture of electrical and electronic products). In the chemical industry, output went up by 14.4 per cent in August and in the metal industry it grew by 13.2 per cent. Output in the electrical and electronics industry went up by 12.6 per cent. In the food industry output fell by 3.2 per cent in August.

Working day adjusted change in industrial output by industry 8/2009-8/2010, %, TOL 2008

In August, capacity utilisation rate in manufacturing was 75.8 per cent, or 8.1 percentage points higher than one year earlier. In the forest industry capacity utilisation rate was 82.8 per cent in August, and had risen by 11 percentage points from one year back. In the metal industry capacity utilisation rate was 72.3 per cent in August, or 9 percentage points higher than one year earlier.

Estimation

Statistics Finland has increased the use of estimation and around ten per cent of the index for August was estimated. In the electrical and electronics industry (26-27) estimation was used in the calculation of the August index. The Tax Administration’s payment control data are used to compile statistics on the output of enterprises with fewer than 50 employees. Enterprises with fewer than 50 employees account for around 13 per cent of industrial output 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, i.e. in this case August. The payment control data will be available when releasing data for the month for the second time, i.e. in the data for July. Revised data for August 2010 will be published at 9 am on 10 November 2010 in connection with the release of industrial output data for September 2010. 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.

Final index and value added weights for 2009

Statistics Finland will release the final annual volume indices for 2009 in connection with the index for August. The preliminary monthly volume index is based on a sample.The final annual volume index is calculated from the regional and industrial statistics on manufacturing compiled from structural statistics on manufacturing. In the same connection the establishment and industry-specific weights are changed to correspond to the situation in 2009. The changes will have an effect on the data concerning 2009 and the early part of 2010.

Source: Volume Index of Industrial Output 2010, August. 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 6.3 per cent in August (8.10.2010)

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Information about revisions to the Volume Index of Industrial Output (8.10.2010)

Updated 08.10.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. August 2010. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/08/ttvi_2010_08_2010-10-08_tie_001_en.html