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Published: 30 June 2021

Preliminary data: Turnover in industry grew in May

According to Statistics Finland's preliminary data, the working day adjusted turnover in industry grew by 11.3 per cent in May 2021 compared with May 2020. The development was partly due to the exceptional situation caused by the coronavirus one year earlier.

Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)

Turnover on level with the previous month in May

According to the preliminary data the seasonally adjusted turnover in industry was on level with the previous month in May 2021. In April, seasonally adjusted turnover grew by 2.2 per cent, while in March, turnover was 0.2 per cent higher than in the month before.  

Change in seasonally adjusted turnover from the previous month in manufacturing, % (TOL 2008)

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration’s self-assessed tax data which are supplemented with data obtained with Statistics Finland’s sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and are released at a delay of around four weeks. The data may become significantly revised in coming months.

Source: Index of turnover in industry 2021, May, Statistics Finland

Inquiries: Maija Sappinen 029 551 3348, Aki Niskanen 029 551 2657, myynti.teollisuus@stat.fi

Head of Department in charge: Katri Kaaja

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Appendix tables

• Appendix table 1. Annual change in working day adjusted turnover in manufacturing (30.6.2021)

Figures

• Appendix figure 1. Turnover of manufacturing (BCD), trend series (30.6.2021)

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Updated 30.6.2021