Industrial output grew in January both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) grew by 1.0 per cent in January from the month before. According to Statistics Finland, industrial output adjusted for working days was 0.9 per cent higher in January 2021 compared to January 2020. There were two fewer working days in January 2021 than in January 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/01

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

Examined by main industry, seasonally adjusted industrial output decreased in January in nearly all industries. Output decreased most in the industry of mining and quarrying, by 9.1 per cent from the previous month. The decrease compared to December was 3.9 per cent in the chemical industry and 0.6 per cent in the food industry. Only two main industries had slightly more output than in the previous month. In January, output in the metal industry went up by 1.5 per cent, and in the industry of electricity, gas, steam and air conditioning supply by 0.3 per cent.

Compared to one year ago, output grew most in electricity, gas, steam and air conditioning supply, by 4.5 per cent, and in the electrical and electronic industry, by 3.3 per cent. In the food industry, output decreased by 2.5 per cent and in the metal industry by 1.8 per cent compared with January 2020.

Seasonal adjusted change in industrial output by industry, 12/2020 to 01/2021, %, TOL 2008

Revised data for January 2021 will be published at 8 am on 9 April 2021 in connection with the release of industrial output data for February 2021. The revision is influenced by the estimation used in the latest release, which is based on the Tax Administration's data on self-assessed taxes 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 are also adjusted for working days.

Source: Volume Index of Industrial Output 2021, January. Statistics Finland

Inquiries: Maarit Mäkelä 029 551 3324, Kirsi-Maaria Manninen 029 551 2681, volyymi.indeksi@stat.fi

Head of Department in charge: Katri Kaaja

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Industrial output increased by 0.9 per cent year-on-year in January (10.3.2021)

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Updated 10.3.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January 2021. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2021/01/ttvi_2021_01_2021-03-10_tie_001_en.html