Industrial output decreased by 0.9 per cent year-on-year in December

According to Statistics Finland, output of total industries adjusted for working days was 0.9 per cent lower in December 2014 compared to December 2013. The original index in total industries grew by 3.6 per cent in December. In 2014, industrial output contracted by 2.6 per cent from 2013. Industrial output has decreased continuously for three years in a row. Finland’s industrial output has dropped by 19 per cent from the level in 2008 preceding the financial crisis.

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

In December, seasonally adjusted output fell by 0.1 per cent from November. In November, seasonally adjusted output went down by 0.2 per cent. In October, seasonally adjusted output increased by 0.2 per cent from the previous month.

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

Already one-half of the main industries were growing. The largest growth of nearly 10 per cent was recorded in the chemical industry. Mining and quarrying grew by 9.4 per cent from twelve months back. In December, the electrical and electronics industry increased by close on one per cent. Production declined most in the food industry, by 5.1 per cent, from one year back. In the metal industry, output decreased by 1.1 per cent in December.

Working day adjusted change in industrial output by industry 12/2013-12/2014, %, TOL 2008

In December, capacity utilisation rate in manufacturing (C) was 76.4 per cent, or 0.7 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 77.1 per cent in December, or one percentage point higher than in December 2013. In the metal industry, capacity utilisation rate was 79.2 per cent in December, which was 1.9 percentage points higher than one year earlier.

Revised data for December 2014 will be published at 9 am on 10 March 2015 in connection with the release of industrial output data for January 2015. 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, December. 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 0.9 per cent year-on-year in December (10.2.2015)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2014. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/12/ttvi_2014_12_2015-02-10_tie_001_en.html