Industrial output decreased by 0.4 per cent year-on-year in October

According to Statistics Finland, output of total industries adjusted for working days was 0.4 per cent lower in October 2014 compared to October 2013. In the January to October period, industrial output adjusted for working days went down by 3.2 per compared with the corresponding period in 2013

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

In October, seasonally adjusted output went up by 0.2 per cent from September. In September, seasonally adjusted output grew by 1.0 per cent. In August, seasonally adjusted output decreased by 0.6 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. Mining and quarrying declined most, by good nine per cent. In the chemical industry, output decreased by 2.2 per cent in October year-on-year. Adjusted for working days, output in the food industry decreased by 3.8 per cent year-on-year. In the metal industry, output increased by 3.6 per cent in October.

Working day adjusted change in industrial output by industry 10/2013-10/2014, %, TOL 2008

In October, capacity utilisation rate in manufacturing (C) was 80.7 per cent, or 1,8 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 84.7 per cent in October, or 3.4 percentage points lower than in October 2013. In the metal industry, capacity utilisation rate was 83.0 per cent in October, which was 0.3 percentage points higher than one year earlier.

Revised data for October 2014 will be published at 9 am on 9 January 2015 in connection with the release of industrial output data for November 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, October. 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 0.4 per cent year-on-year in October (10.12.2014)

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Updated 10.12.2014

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2014. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/10/ttvi_2014_10_2014-12-10_tie_001_en.html