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

According to Statistics Finland, output of total industries adjusted for working days was 0.8 per cent lower in October 2015 compared to October 2014. During January to October, industrial output declined by 1.6 per cent year-on-year. The growth in industrial output seen in September turned to a slight decline in October. Positive in the October development was that the capacity utilisation rate grew in several main industries from one year ago.

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

In October, seasonally adjusted output fell by 0.8 per cent from September. In September, seasonally adjusted output grew by 1.2 per cent from August. In August, seasonally adjusted output was at the same level as in July.

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

Industrial output diminished in several main industries in October. Output declined most, by 10.5 per cent, in mining and quarrying. Output of the food industry decreased by 2.0 per cent year-on-year in October. Output of the forest industry contracted by 3.0 per cent year-on-year in October.

Working day adjusted change in industrial output by industry 10/2014-10/2015, %, TOL 2008

In October, capacity utilisation rate in manufacturing (C) was 81.9 per cent, or one percentage point higher than one year earlier. In the forest industry, capacity utilisation rate was 88 per cent in October, or 1.7 percentage points higher than in October 2014. In the metal industry, capacity utilisation rate was 83.5 per cent in October, or 1.4 percentage points higher than one year earlier.

Revised data for October 2015 will be published at 9 am on 8 January 2016 in connection with the release of industrial output data for November 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 2015, October. Statistics Finland

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

Director in charge: Mari Yl�-Jarkko

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Industrial output decreased by 0.8 per cent year-on-year in October (10.12.2015)

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Updated 10.12.2015

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2015. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2015/10/ttvi_2015_10_2015-12-10_tie_001_en.html