Industrial output grew in November from the month before but fell from the previous year

Seasonally adjusted industrial output (TOL BCD) grew by 0.7 per cent in November from the month before. According to Statistics Finland, industrial output adjusted for working days was 0.9 per cent lower in November 2020 than in November 2019. Adjusted for working days, industrial output went down by 3.1 per cent in January to November from one year back.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/11

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

Examined by main industry, seasonally adjusted industrial output grew in November in nearly all industries. The biggest growth was recorded in mining and quarrying, 12.6 per cent, and in electricity, gas, steam and air conditioning supply, 8.7 per cent from the month before. Output decreased most in the food industry, by 2.2 per cent compared to October. In the metal industry, output decreased by 0.2 per cent in November.

Compared to one year ago, output in the main industries grew in November most in the electrical and electronics industry, by 13.7 per cent, and in mining and quarrying, by 10.0 per cent. The fall in output was still strongest in the forest industry, where output went down by 9.0 per cent from the previous year. In the food industry, output decreased by 5.5 per cent and in the chemical industry by 1.5 per cent compared with November 2019.

Seasonal adjusted change in industrial output by industry, 10/2020 to 11/2020, %, TOL 2008

Revised data for November 2020 will be published at 8 am on 10 February 2021 in connection with the release of industrial output data for December 2020. 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 2020, November. 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 decreased by 0.9 per cent year-on-year in November (8.1.2021)

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Updated 8.1.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2020. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ttvi/2020/11/ttvi_2020_11_2021-01-08_tie_001_en.html