Home > Statistics > Volume index of industrial output > 2008 > October > Industrial output decreased by 1.2 per cent year-on-year in October

Published: 28 November 2008

Industrial output decreased by 1.2 per cent year-on-year in October

According to Statistics Finland, industrial output adjusted for working days was 1.2 per cent lower in October 2008 than twelve months earlier. In the January to October period, industrial output adjusted for working days grew by 1.5 per cent from twelve months back. The growth has slowed down by good two percentage points from last year's corresponding time period. Among the main industries, the biggest growth of good 6 per cent was recorded in October in the manufacture of electronic and electrical products. However, exclusive of the manufacture of electronic and electrical products, output in the manufacturing industry contracted by good 3 per cent. The growth in the electronics industry pushed output in the whole metal industry up by just short of 2 per cent. In the chemical industry, output went up by good 2 per cent in October. Output decreased most, or by almost 11 per cent, in the wood and paper industry. In other manufacturing output fell by 3.8 per cent.

Working day adjusted change in industrial output by industry 10/2007-10/2008, %

Seasonally adjusted change in industrial output from previous month, %

Working day adjusted change in industrial output from corresponding month of previous year, %

Release timetable of Volume Index of Industrial Output in 2009

In 2009, the Finnish Volume Index of Industrial Output will be released at the lag of approximately 40 days, in other words on the 10th day of each month or on the weekday preceding it. For example, the Volume Index of Industrial Output for January 2009 will be released on 10 March 2009.

Release dates for the Volume Index of Industrial Output in 2009 are listed below:

Index month	2009
January	10 March
February	9 April
March	8 May
April	10 June
May	10 July
June	10 August
July	10 September
August	9 October
September	10 November
October	10 December

A project on a revision of the Volume Index of Industrial Output was launched in 2006 and will continue through next year. During the project the coverage of small and medium-sized enterprises has been improved, and volume data have been replaced with value data in the Volume Index, as well as the data inquiry widened to the most important industrial services. At the same time the data collection for the Volume Index of Industrial Output has been expanded. Price data are required for the deflation of value data in the compilation of the Volume Index.

Some of the data required by these revisions do not become available to Statistics Finland within the present release timetable. This is why the releasing of the Volume Index is postponed by approximately 10 days next year.

The revised standard industrial classification TOL 2008 will also be introduced when the Volume Index is released in January 2009. For further information on this see: http://stat.fi/til/ttvi/ttvi_2008-09-26_luo_001_en.html

Revised data for October will be published at 9 am on 31 December 2008 in connection with the release of industrial output data for November.

Source: Volume Index of Industrial Output 2008, October. Statistics Finland

Inquiries: Mr Kari Rautio +358 9 1734 2479, volyymi.indeksi@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 28.11.2008