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Industrial output grew in May 2023 both from the previous month and from one year back

release | Volume index of industrial output 2023, May

Seasonally adjusted industrial output (TOL BCD) grew by 2.5 per cent in May from the month before. According to Statistics Finland, industrial output adjusted for working days also went up by 1.7 per cent compared to May 2022.

Key selections

  • Both seasonally adjusted and working day adjusted industrial output (BCD) grew in May 2023.
  • Output decreased most compared to the previous month in mining and quarrying.
  • Output grew most strongly from one year ago in the industry of electricity, gas, steam and air conditioning supply.

Output grew from the previous month in several of the examined main industries

Adjusted for working days, output in manufacturing (C) increased by 1.0 per cent in May from one year earlier. Seasonally adjusted output grew by 2.1 per cent from the month before.

In May, industrial output grew in several of the examined main industries. The industries with most growth were the electrical and electronics industry, 8.7 per cent, the chemical industry, 8.6 per cent, and electricity, gas, steam and air conditioning supply, 8.4 per cent. The fall in output was strongest in mining and quarrying, down by 11.9 per cent compared to April. In the forest industry, output decreased by 2.4 per cent from the previous month and in the food industry by 1.2 per cent.

Compared to one year ago, output grew most strongly in electricity, gas, steam and air conditioning supply, by 13.3 per cent. In both the chemical industry and the electrical and electronics industry, output was 7.9 per cent higher than in May 2022. Output decreased most in mining and quarrying, by 22.6 per cent, and in the forest industry, by 12.2 per cent.

Figures

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Seasonal adjusted change in industrial output by industry, 4/2023 to 5/2023, %, TOL 2008

Tables

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Volume index of industrial output, share of industry in total industries (BCD), original, working day adjusted, seasonally adjusted change percentage 5/2023

Database tables

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Updated database tables
Classifications used:
  • Standard Industrial Classification (TOL 2008)
Period:
month
Updated:
Classifications used:
  • Revision
  • Standard Industrial Classification (TOL 2008)
Period:
month
Updated:

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Petri Koivisto
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