Industrial output decreased by 3.1 per cent year-on-year in May

According to Statistics Finland, output of total industries adjusted for working days was 3.1 per cent lower in May 2014 than twelve months earlier. In the January to May period, industrial output adjusted for working days went down by 4.8 per cent compared with the corresponding period in 2013.

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

In May, seasonally adjusted output went down by 0.2 per cent from April. In April, seasonally adjusted output was 0.5 per cent higher than in March. In March, output decreased by 0.1 per cent from the previous month.

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

Industrial output diminished in all main industries in May. Mining and quarrying decreased most, by 9.5 per cent. Production of electricity diminished by 1.6 per cent. In the metal industry, output was 2.4 per cent lower than in May 2013. In the food industry, the decline in output amounted to 5.1 per cent. In the chemical industry, output decreased by 2.4 per cent from twelve months back.

Working day adjusted change in industrial output by industry 5/2013-5/2014, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 81.0 per cent in May, or 0.7 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 85.4 per cent in May, or 3.3 percentage points lower than in May 2013. In the metal industry, capacity utilisation rate was 82.3 per cent in May, which was 1.0 percentage points higher than one year earlier.

Revised data for May 2014 will be published at 9 am on 8 August 2014 in connection with the release of industrial output data for June 2014. 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 2014, May. Statistics Finland

Inquiries: Kari Rautio 029 551 2479, Heidi Myllyl� 029 551 3792, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output decreased by 3.1 per cent year-on-year in May (10.7.2014)

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Updated 10.7.2014

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2014. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/05/ttvi_2014_05_2014-07-10_tie_001_en.html