Industrial output decreased by 2.5 per cent year-on-year in July

According to Statistics Finland, output of total industries adjusted for working days was 2.5 per cent lower in July 2013 than twelve months earlier. In the January to July period, industrial output adjusted for working days went down by 4.8 per cent from twelve months back. Capacity utilisation rate was in July nearly two percentage points higher than one year previously.

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

Seasonally adjusted output grew in July by 2.0 per cent compared with the previous month. In June, seasonally adjusted output was one per cent lower than in May. In May, output increased by 1.9 per cent from the previous month.

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

Industrial output diminished in several main industries in July. Output fell most in the electrical and electronics industry, by 19.4 per cent. Output in the metal industry went down by 7.8 per cent. Among main industries, output increased most in mining and quarrying, which grew by 39.1 per cent compared with the year before. In the food industry, output grew by 4.0 per cent year-on-year. In the chemical industry, output increased by 2.5 per cent from July 2012.

Working day adjusted change in industrial output by industry 7/2012-7/2013, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 75.8 per cent in July, or 1.6 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 80.6 per cent in July, or 0.3 percentage points higher than in July 2012. In the metal industry, capacity utilisation rate was 75.2 per cent in July, which was 0.5 percentage points higher than one year earlier.

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

Source: Volume Index of Industrial Output 2013, July. 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 2.5 per cent year-on-year in July (10.9.2013)

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Updated 10.9.2013

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2013. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2013/07/ttvi_2013_07_2013-09-10_tie_001_en.html