Data of the Volume Index of Industrial Output for January to April 2011 corrected

An error has been detected in Statistics Finland's calculation system of the Volume Index of Industrial Output, which has an effect on the previously published volume index figures for January to April 2011. The erroneous figures for the early part of the year have now been corrected to the statistical releases and databases and to the data files delivered to customers.

The error was caused by that the revision in the weight structure at the turn of the year had not become updated to the calculation system. For that reason, enterprises' weights by size category inside three-digit industries had remained erroneous in the calculation of the index. Further information about the correction.

According to Statistics Finland, output of total industries adjusted for working days was 2.2 per cent higher in January 2011 than twelve months earlier. In February, working-day adjusted output was 4.2 per cent higher, in March 2.2 per cent higher and in April 6.9 per cent higher than one year previously.

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

Seasonally adjusted output fell in January by 4.5 per cent compared with the previous month. In February output increased by 1.9 per cent from the previous month. In March output grew by 0.3 per cent and in April by 1.6 per cent compared with the month before.

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

Output went up in most main industries in January. Among the industries, the biggest growth was recorded in mining and quarrying, where output was as much as 35 per cent higher than in January 2010. The strong growth in mining has continued for several months. In the metal industry, output grew by 4.1 per cent from one year ago. Output in the electrical and electronics industry decreased by 8.5 per cent. In the chemical industry, output diminished by 1.8 per cent. In the forest industry, output grew by 2.0 per cent from one year ago. Output in electricity, gas, steam and air conditioning supply fell by 1.7 per cent.

Working day adjusted change in industrial output by industry 1/2010-1/2011, %, TOL 2008

Output went up in most main industries in February. In the metal industry, output was as much as 11.2 per cent higher than in February 2010. In mining and quarrying, output grew by 11.2 per cent. In the chemical industry, output went up by 3.5 per cent. Output in the electrical and electronics industry increased by 5.8 per cent. Among the main industries, output fell in electricity, gas, steam and air conditioning supply and in the forest industry. In the forest industry, output declined by 7.2 per cent.

Working day adjusted change in industrial output by industry 2/2010-2/2011, %, TOL 2008

In March mining and quarrying was 6.1 per cent higher than in March 2010. Electricity production went up by 2.3 per cent. In the metal industry, output grew by 4.5 per cent. Output in the electrical and electronics industry went up by 1.2 per cent. In the chemical industry, output increased by 1.6 per cent in March. Among the main industries, output fell most in the food industry, where output was good ten per cent lower than one year previously.

Working day adjusted change in industrial output by industry 3/2010-3/2011, %, TOL 2008

In most main industries, output was up year-on-year in April. The biggest increase in output was recorded in the chemical industry. There output was 25.8 per cent higher than in April 2010. In the food industry, output grew by 11.3 per cent. Output in the metal industry was 7.1 per cent higher than one year previously. Electricity production decreased most in April. There output was 6.8 per cent lower than in last year's April.

Working day adjusted change in industrial output by industry 4/2010-4/2011, %, TOL 2008

Source: Volume Index of Industrial Output 2011, January-April. Statistics Finland

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

Director in charge: Hannele Orjala

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Reviews

Industrial output grew by 2.2 per cent in January (28.6.2011)
Industrial output grew by 4.2 per cent in February (28.6.2011)
Industrial output grew by 2.2 per cent in March (28.6.2011)
Industrial output grew by 6.9 per cent in April (28.6.2011)

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Figures

Updated 28.6.2011

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January to April correction release 2011. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2011/13/ttvi_2011_13_2011-06-28_tie_001_en.html