Industrial output decreased by 1.5 per cent year-on-year in August

According to Statistics Finland, output of total industries adjusted for working days was 1.5 per cent lower in August 2013 than twelve months earlier. In the January to August period, industrial output adjusted for working days went down by 4.4 per cent from twelve months back.

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

In August, seasonally adjusted output went down by 0.1 per cent from July. In July, seasonally adjusted output was 2.2 per cent higher than in June. In June, output decreased by nearly one per cent from the previous month.

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

Industrial output diminished in several main industries in August. Output fell most in the electrical and electronics industry, by 16.2 per cent. In the chemical industry, output was 5.2 per cent lower than in last year's corresponding period. In the metal industry, output went down by 3.3 per cent. Among main industries, output increased most in mining and quarrying, which grew by 59.5 per cent compared with the year before. Production of electricity grew by 2.4 per cent from one year ago.

Working day adjusted change in industrial output by industry 8/2012-8/2013, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 80.2 per cent in August, or 1.3 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 83.4 per cent in August, or 3.6 percentage points lower than in August 2012. In the metal industry, capacity utilisation rate was 79 per cent in August, which was 2.6 percentage points lower than one year earlier.

Revised data for August 2013 will be published at 9 am on 8 November 2013 in connection with the release of industrial output data for September 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, 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 1.5 per cent year-on-year in August (10.10.2013)

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Updated 10.10.2013

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. August 2013. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2013/08/ttvi_2013_08_2013-10-10_tie_001_en.html