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

Seasonally adjusted industrial output (TOL BCD) grew by 3.4 per cent in February from the month before. According to Statistics Finland, industrial output adjusted for working days was 5.5 per cent higher in February 2021 than in February 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/02

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

Examined by main industry, seasonally adjusted industrial output grew in February in all industries. Output grew most in mining and quarrying, by 4.8 per cent, in electrical and electronics industry, by 4.2 per cent and in electricity, gas, steam and air conditioning supply, by 4.1 per cent from the month before. Output in the food industry was 1.8 per cent lower than in January. The growth was most moderate compared to the previous month in the forest industry, 0.4 per cent.

Compared to one year ago, output increased most in the forest industry, by 37.6 per cent. The growth was due to labour disputes in the industry in February 2020, which turned output in the forest industry clearly negative one year ago. Output was also higher in several other main industries than one year ago. In electricity, gas, steam and air conditioning supply, output grew in February by 8.2 per cent and in the electrical and electronics industry by 4.6 per cent. Output decreased most in the industry of mining and quarrying, by 13.2 per cent from February 2020.

Seasonal adjusted change in industrial output by industry, 01/2021 to 02/2021, %, TOL 2008

Revised data for February 2021 will be published at 8 am on 10 May 2021 in connection with the release of industrial output data for March 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, February. 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 5.5 per cent year-on-year in February (9.4.2021)

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Updated 9.4.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. February 2021. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/ttvi/2021/02/ttvi_2021_02_2021-04-09_tie_001_en.html