Industrial output grew by 4.2 per cent in May year-on year

According to Statistics Finland, output of total industries adjusted for working days was 4.2 per cent higher in May 2017 than in May 2016. This year’s May had one working day more than last year. Original output grew by 4.7 per cent in May from one year back. During January to May, working day adjusted output went up by 2.1 per cent from the year before.

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

In May, seasonally adjusted output went up by 1.5 per cent from the month before. In April, production was at the same level as in March. In March output went up by 1.3 per cent from February.

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

In May, output grew in several main industries. Output increased most, by 12.7 per cent, in the chemical industry. Output in the electrical and electronics industry grew by 5.1 per cent year-on-year. In the metal industry, output grew by 4.5 per cent. Output declined most, by 10.8 per cent, in mining and quarrying.

Working day adjusted change in industrial output by industry 5/2016-5/2017, %, TOL 2008

In May, capacity utilisation rate in manufacturing (C) was 84.3 per cent, or 0.7 per cent higher than one year earlier. In the forest industry, capacity utilisation rate was 88.8 per cent in May, or 1.4 percentage points lower than in May 2016. In the metal industry, capacity utilisation rate was 85.7 per cent in May, which was 1.4 per cent higher than one year earlier.

Revised data for May 2017 will be published at 9 am on 10 August 2017 in connection with the release of industrial output data for June 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 2017, May. Statistics Finland

Inquiries: Kari Rautio 029 551 2479, Maarit M�kel� 029 551 3324, volyymi.indeksi@stat.fi

Deputy director in charge: Sami Saarikivi

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Industrial output grew by 4.2 per cent in May year-on year (10.7.2017)

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Updated 10.7.2017

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2017. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2017/05/ttvi_2017_05_2017-07-10_tie_001_en.html