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Published: 9 April 2009

Steep decline in industrial output continued in February

According to Statistics Finland, industrial output adjusted for working days was 22.2 per cent lower in February 2009 than twelve months earlier. In January industrial output fell by nearly 21.8 per cent year-on-year. In the last three months industrial output has declined by one fifth when compared with the year before.

Output fell in all main industries in February. In the chemical industry, output decreased by a good 15 per cent. The metal industry's output fell by nearly 24 per cent. Output fell most in the forest industry, by 32 per cent. So far the food industry seems to have suffered the least; its output fell by 10 per cent in February from the year before.

Capacity utilisation rate in manufacturing was 72 per cent in February, which was nearly 10 percentage points lower than in last year's corresponding month. Capacity utilisation date in forest industry was 72 per cent, which was a good 16 percentage points lower than one year previously.

 

Working day adjusted change in industrial output by industry 2/2008-2/2009, %, TOL 2008

* Metal industry excl. manufacture of electrical and electronic products

 

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

 

Working day adjusted change in industrial output (C) from corresponding month of previous year, %.
TOL 2008

 

Estimation

In many months of the year the volume index of industrial output uses estimation in industry 26-27 Electrical and electronics industry. In this industry Statistics Finland estimates data 8 times a year. Not all of the data on this industry is at Statistics Finland's disposal at the publication times. For example, estimated data for January and February become revised in April, when the data for both March and January-February become available. As the industry (26-27) has a 20 per cent weight in total industries, using estimation may influence the point figures and change percentages calculated for the volume index of industrial output even if previous data on other industries do not become revised.

 

Revised data for February will be published at 9 am on 8 May 2009 in connection with the release of industrial output data for March. 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 will also be adjusted for working days.

Source: Volume Index of Industrial Output 2009, February. 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 9.4.2009