Industrial output decreased by 1.4 per cent year-on-year in August

According to Statistics Finland, output of total industries adjusted for working days was 1.4 per cent lower in August 2012 than twelve months earlier. In the January to August period, industrial output adjusted for working days went down by 1.4 per cent from twelve months back.

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

In August, seasonally adjusted output went down by 0.8 per cent from the month before. In July, output grew by 1.2 per cent from June. In June, seasonally adjusted output was 1.8 per cent lower than in May.

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

Among the main industries, the largest drop of almost 30 per cent was seen in the output of mining and quarrying. Output went down by 4.2 per cent in the metal industry. In the chemical industry, output was 4.9 per cent higher than in August 2011. In the forest industry, output grew by 1.2 per cent from one year ago.

Working day adjusted change in industrial output by industry 8/2011-8/2012, %, TOL 2008

In August, capacity utilisation rate in manufacturing (C) was 80.8 per cent, or two percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 88.9 per cent in August, or 3.5 percentage points higher than in August 2011. Capacity utilisation rate in the metal industry was 79.3 per cent in August, which was 3.9 percentage points higher than twelve months earlier.

Checking of weights

Following the calculation principle of the chain-linked index, establishment and industry-specific weights are changed annually to correspond to the industry and production structure of manufacturing. Changes in weights also have an impact at the level of total industries. The figures in the statistical release for August were calculated using new heading-specific weights. The change in weights has some effect on the index point figures and change percentages for the early part of the year.

Revised data for August 2012 will be published at 9 am on 9 November 2012 in connection with the release of industrial output data for September 2012. The revision is influenced by the estimation used in the latest release which concerns the periodic tax return data used for enterprises with fewer than 50 employees. 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 2012, August. Statistics Finland

Inquiries: Kari Rautio 09 1734 2479, Salla Simola 09 1734 3308, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output decreased by 1.4 per cent year-on-year in August (10.10.2012)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. August 2012. Helsinki: Statistics Finland [referred: 28.12.2024].
Access method: http://www.stat.fi/til/ttvi/2012/08/ttvi_2012_08_2012-10-10_tie_001_en.html