Industrial output fell in December both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) fell by 0.9 per cent in December from the month before. According to Statistics Finland, industrial output adjusted for working days was 2.5 per cent lower in December 2020 compared to December 2019. Adjusted for working days, industrial output went down by 3.1 per cent in January to December from one year back.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/12

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

Examined by main industry, seasonally adjusted industrial output grew in December in several industries. Growth was biggest in the industry of mining and quarrying, by 4.4 per cent from the previous month. In the forest industry, output grew by 3.2 per cent and in the chemical industry by 3.1 per cent compared to November. Output decreased in December most in the electrical and electronics industry, by 5.1 per cent, and in the metal industry, by 3.0 per cent.

Compared to one year ago, output grew in two main industries. The chemical industry grew by 13.9 per cent and mining and quarrying by 8.5 per cent from the year before. Output fell most in the metal industry, by 6.3 per cent, and in the electrical and electronics industry, by 3.4 per cent compared to December 2019.

Seasonal adjusted change in industrial output by industry, 11/2020 to 12/2020, %, TOL 2008

Revised data for December 2020 will be published at 8 am on 10 March 2021 in connection with the release of industrial output data for January 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 2020, December. 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 2.5 per cent year-on-year in December (10.2.2021)

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Updated 10.2.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2020. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ttvi/2020/12/ttvi_2020_12_2021-02-10_tie_001_en.html