Home > Statistics > Volume index of industrial output > 2009 > January > Industrial output plummeted in January

Published: 10 March 2009

Industrial output plummeted in January

According to Statistics Finland, industrial output adjusted for working days was 19.5 per cent lower in January 2009 than twelve months earlier. In December industrial output decreased a good 16 per cent from the year before. In the November to January period slightly more than 15 per cent had "dissolved" from industrial output when compared with twelve months back. In 2008 industrial output decreased by just under one per cent. The last time industrial output fell by more than this was during the deepest recession in 1991, when it fell by as much as 8.7 per cent. The decline in output in the recent months has been steeper than in the deepest recession years during the 1990s.

Output fell in all main industries in January. The decline in output steepened when compared with December. In January the metal industry's output fell by nearly 19 per cent. Output fell most in the forest industry, by 35 per cent.

Capacity utilisation rate in manufacturing was 72 per cent in January, which was 10 percentage points lower than in last year's corresponding month.

Working day adjusted change in industrial output by industry 1/2008-1/2009, %, TOL 2008

Seasonally adjusted change in industrial output from previous month, %

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

Industrial output (BCDE) annual change 2001-2008, %, TOL 2008

The standard industrial classification TOL 2008

The standard industrial classification TOL 2008 and base year 2005=100 were introduced in these statistics starting from data concerning January 2009. Further information about the TOL 2008 classification is available in the TOL 2008 section on Statistics Finland's website. Further information about the transition of the volume index of industrial output to standard industrial classification TOL 2008 is available under Revisions in these statistics.

Backcast series according to the revised classification (TOL 2008) until the year 2000 will be published on the home page of the statistics. Series for the years 1995-1999 will be published according to the revised classification (TOL 2008) in May. More information on the methods applied is available on the home page of the statistics (in Finnish).

Source: Volume Index of Industrial Output 2009, January. 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 10.3.2009