Home > Statistics > Volume index of industrial output > 2009 > August > Industrial output decreased by 21.2 per cent year-on-year in August

Published: 9 October 2009

Industrial output decreased by 21.2 per cent year-on-year in August

According to Statistics Finland, the working-day adjusted output of total industries (BCDE) was 21.2 per cent lower in August 2009 than twelve months earlier. In July, industrial output fell by 24.3 per cent year-on-year. Over the January to August period, industrial output (BCDE) has decreased by 22.9 per cent from the corresponding period of the year before. During the same time period, output in manufacturing (C) has fallen by 26 per cent and the index point figure for January-August stood at 84.8 (2005=100).

With the exception of the food industry, output fell year-on-year in all main industries in August. In the metal industry output fell by good 33 per cent in August. Output in the electrical and electronics industry decreased by 30 per cent from twelve months back. In the forest industry output diminished by 20 per cent in August whereas in July the decline in its output was 30 per cent. In the chemical industry output fell by 12 per cent in August.

Capacity utilisation rate in manufacturing (C) was 67.8 per cent in August, which was nearly 15 percentage points lower than in last year's corresponding month. In the forest industry, capacity utilisation rate was 73.3 per cent, or 12 percentage points lower than twelve months back.

Working day adjusted change in industrial output by industry 8/2008-8/2009, %, TOL 2008

*Metal industry excl. manufacture of electrical and electronic products

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

Working day adjusted change in industrial output (BCDE) 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 are at Statistics Finland's disposal at the time of publication. For example, estimated data for July-August may become revised in November when data for September are released. As the weight of the industry (26-27) is almost 20 per cent 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.

Establishment-specific weights were also reviewed in connection with the calculation of data concerning August. From now on, establishment-specific weights relate to the year 2008. Likewise, industry-specific value-added weights have been converted to correspond with 2007 data. These changes influence index point figures and change percentages starting from data concerning January 2008.

Revised data for August will be published at 9 am on 10 November 2009 in connection with the release of industrial output data for September. 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, August. 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 9.10.2009