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

Seasonally adjusted industrial output (TOL BCD) grew by 0.2 per cent in October from the month before. According to Statistics Finland, industrial output adjusted for working days was 5.5 per cent higher in October 2021 compared to October 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/10

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

Examined by main industry, seasonally adjusted industrial output grew in October in all industries apart from the chemical industry. The industry of mining and quarrying grew most, by 11.5 per cent from the previous month. The growth was lower in other main industries. Output grew by 3.4 per cent in the electrical and electronics industry, by 1.3 per cent in the food industry and by 0.2 per cent in the forest industry compared to the previous month. Output in the chemical industry decreased by 3.4 per cent from September.

Compared to one year ago, output also grew in all main industries apart from the chemical industry, where output was 10.3 per cent lower than in October 2020. Output increased most, or by 16.2 per cent, in the forest industry from one year back. Output grew by 16.0 per cent in mining and quarrying, by 4.9 per cent in the metal industry and by 1.7 per cent in the food industry than twelve months earlier.

Seasonal adjusted change in industrial output by industry, 09/2021 to 10/2021, %, TOL 2008

Revised data for October 2021 will be published at 8 am on 10 January 2022 in connection with the release of industrial output data for November 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, October. 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 October (10.12.2021)

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Revisions in these statistics (10.12.2021)

Updated 10.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2021. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2021/10/ttvi_2021_10_2021-12-10_tie_001_en.html