Industrial output decreased by 1.3 per cent year-on-year in December

According to Statistics Finland, output of total industries adjusted for working days was 1.3 per cent lower in December 2012 compared to December 2011. According to preliminary data, industrial output decreased by 2.1 per cent in 2012 from the year before.

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

Seasonally adjusted output grew by 1.6 per cent in December from November. In November, seasonally adjusted output was 0.9 per cent lower than in October. In October, seasonally adjusted output grew by 0.7 per cent from the reference period.

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

Among the main industries, output decreased by most, or by 6.8 per cent, in the electrical and electronics industry. Output in the metal industry went down by 6.6 per cent. In the food industry, output declined by 5.7 per cent. In the forest industry, output was one per cent down on twelve months back. In December, output was growing strongly in the chemical industry, where output increased by 13.2 per cent from one year ago. In mining and quarrying, output grew by seven per cent in December.

Working day adjusted change in industrial output by industry 12/2011-12/2012, %, TOL 2008

In December, capacity utilisation rate in manufacturing (C) was 74.7 per cent, or 3.1 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 75.6 per cent in December, or 2.1 percentage point lower than in December 2011. In the metal industry, capacity utilisation rate was 75.7 per cent in December, which was 3.1 percentage points lower than one year earlier. Capacity utilisation rate in the chemical industry decreased in December by 1.2 percentage points from the previous year to 79.7 per cent.

Revised data for December 2012 will be published at 9 am on 8 March 2013 in connection with the release of industrial output data for January 2013. 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, December. 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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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2012. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2012/12/ttvi_2012_12_2013-02-08_tie_001_en.html