Industrial output went up by 1.3 per cent year-on-year in December

According to Statistics Finland, output of total industries adjusted for working days was 1.3 per cent higher in December 2016 compared to December 2015. In 2016, industrial output grew by 2.4 per cent. The drop in industrial output that began in 2012 turned into growth last year. The level of industrial output is, however, nearly 17 per cent below the level that prevailed prior to the financial crisis in 2008.

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

Seasonally adjusted output decreased by 0.7 per cent in December from November. In November, seasonally adjusted output increased by 0.3 per cent from the previous month. In October, output fell by 0.2 per cent.

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

In December, output grew in several main industries. Output increased most, by 3.4 per cent, in mining and quarrying. Output in the forest industry was 2.8 per cent up on twelve months back. Output in the metal industry grew by 1.5 per cent in December. In the chemical industry, output decreased by 5.3 per cent in December from twelve months back. Output in the electrical and electronics industry decreased by 5.5 per cent.

Working day adjusted change in industrial output by industry 12/2015-12/2016, %, TOL 2008

In December, capacity utilisation rate in manufacturing (C) was 80.1 per cent, or 1.9 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 83.6 per cent in December, or one percentage point higher than in December 2015. In the metal industry, capacity utilisation rate was 82.9 per cent in December, which was 1.6 percentage points higher than one year earlier.

Revised data for December 2016 will be published at 9 am on 10/03/2017 in connection with the release of industrial output data for January 2017. 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 2016, December. 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 grew by 1.3 per cent year-on-year in December (10.2.2017)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2016. Helsinki: Statistics Finland [referred: 28.12.2024].
Access method: http://www.stat.fi/til/ttvi/2016/12/ttvi_2016_12_2017-02-10_tie_001_en.html