Industrial output decreased by 0.7 per cent year-on-year in October

According to Statistics Finland, output of total industries adjusted for working days was 0.7 per cent lower in October 2012 compared to October 2011. In the January to October period, industrial output adjusted for working days went down by 1.5 per cent from twelve months back.

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

Seasonally adjusted output grew by 0.4 per cent in October from September. In September and August, output declined by good one per cent from the reference period. In July, seasonally adjusted output was 1.4 per cent higher than in June.

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

Among the main industries, output decreased by most, or by 11.7 per cent, in the electrical and electronics industry. In mining and quarrying, output fell by nearly nine per cent in October. In the food industry, output was 2.8 per cent down on October 2011. The production of electricity grew by 6.6 per cent from one year ago. Output in the chemical industry was 5.4 per cent higher than one year previously. In the forest industry, output started to grow by 3.2 per cent in October.

Working day adjusted change in industrial output by industry 10/2011-10/2012, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 82 per cent in October, or 2.1 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 85.2 per cent in October, or 4.3 percentage points higher than in October 2011. Capacity utilisation rate in the metal industry was 83.7 per cent in October, which was four percentage points more than twelve months earlier. Capacity utilisation rate in the chemical industry decreased in October by 2.2 percentage points from the previous year.

Revised data for October 2012 will be published at 9 am on 10 January 2013 in connection with the release of industrial output data for November 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.

The base year 2010 will be utilised for the calculation of the Volume Index of Industrial Output starting from the statistics for January 2013. Data calculated with the new base year will be released for the first time on 8 March 2013.

Source: Volume Index of Industrial Output 2012, October. 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 0.7 per cent year-on-year in October (10.12.2012)

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Updated 10.12.2012

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2012. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2012/10/ttvi_2012_10_2012-12-10_tie_001_en.html