Industrial output decreased by 0.8 per cent year-on-year in November

According to Statistics Finland, output of total industries adjusted for working days was 0.8 per cent lower in November 2014 than twelve months earlier. In the January to November period, industrial output adjusted for working days went down by three 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 November, seasonally adjusted output went down by 0.2 per cent from October. In October, seasonally adjusted output grew by 0.2 per cent. In September, seasonally adjusted output increased by 0.9 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 13 per cent. Adjusted for working days, output in the food industry decreased by 3.4 per cent year-on-year. In the metal industry, output decreased by 1.0 per cent in November. In the chemical industry, output increased by good eight per cent and in the electrical and electronics industry by 1.9 per cent in November.

Working day adjusted change in industrial output by industry 11/2013-11/2014, %, TOL 2008

In November, capacity utilisation rate in manufacturing (C) was 79.4 per cent, or 1.4 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 82.9 per cent in November, or 1.7 percentage points lower than in November 2013. In the metal industry, the capacity utilisation rate was 81.6 per cent in November, which was 0.5 percentage points higher than one year earlier.

Revised data for November 2014 will be published at 9 am on 10 February 2015 in connection with the release of industrial output data for December 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, November. 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 0.8 per cent year-on-year in November (9.1.2015)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2014. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/11/ttvi_2014_11_2015-01-09_tie_001_en.html