Industrial output decreased month-on-month in January but increased year-on-year

Seasonally adjusted industrial output (TOL BCD) fell by 3.2 per cent in January from the month before. According to Statistics Finland, industrial output adjusted for working days was 4.5 per cent higher in January 2022 compared to January 2021.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2022/1

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 from the previous month. Output grew slightly only in the food industry, by 1.6 per cent compared to December. Output fell most in electricity, gas, steam and air conditioning supply, by 13.7 per cent from the month before. Output fell by 7.6 per cent in the forest industry, by 7.5 per cent in mining and quarrying, and by 3.2 per cent in the chemical industry from the month before.

Output grew in nearly all main industries compared to one year ago. The growth was strongest in the metal industry, 10.6 per cent compared to January 2021. In mining and quarrying, output grew by 7.7 per cent and in the food industry by 4.3 per cent from the previous year. Output decreased only in the forest industry, by 2.3 per cent, and in electricity, gas, steam and air conditioning supply, by 2.2 per cent compared to January 2021.

Seasonal adjusted change in industrial output by industry, 12/2021 to 1/2022, %, TOL 2008

Revised data for January 2022 will be published at 8 am on 8 April 2022 in connection with the release of industrial output data for February 2022. 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 2022, 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 4.5 per cent year-on-year in January (10.3.2022)

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Updated 10.3.2022

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January 2022. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2022/01/ttvi_2022_01_2022-03-10_tie_001_en.html