Industrial output grew by 8.6 per cent in September

According to Statistics Finland, output of total industries adjusted for working days was 8.6 per cent higher in September 2010 than twelve months earlier. In August, output was 6.3 per cent up year-on-year. In the January to September period, industrial output grew by 3.9 per cent from twelve months back.

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

Seasonally adjusted output went up by 1.1 per cent in September from the previous month. In August, output increased by 2.4 per cent from the previous month. In July, seasonally adjusted output fell by 3.8 per cent from June.

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

Output went up in all main industries in September. The economic recovery can also be seen as growth in the consumption and production of electricity. Output in electricity, gas, steam and air conditioning supply grew by 10.9 per cent. The biggest increase of 13.9 per cent was recorded in the output of metal industry exclusive of manufacture of electrical and electronic products. In the whole metal industry output grew by 10.5 per cent. Output in the chemical industry went up by 10.2 per cent in September. In the electrical and electronics industry output increased by 4.7 per cent. The food industry’s output grew by 1.2 per cent in September.

Working day adjusted change in industrial output by industry 9/2009-9/2010, %, TOL 2008

Capacity utilisation rate in manufacturing was 77 per cent in September, or 7.3 percentage points higher than twelve months earlier. In the forest industry capacity utilisation rate was 84.4 per cent in September, and had risen by 6.9 percentage points from one year back. In the metal industry capacity utilisation rate was 74.3 per cent in September, or 9.6 percentage points higher than one year earlier.

Estimation

Statistics Finland has increased the use of estimation and around ten per cent of the index for September was estimated. In the Electrical and electronics industry (26-27) estimation was used in the calculation of the September index. The Tax Administration’s payment control data are used to compile statistics on the output of enterprises with fewer than 50 employees. Enterprises with fewer than 50 employees account for around 13 per cent of industrial output and these data cover nearly 70 per cent of the production of enterprises with fewer than 50 employees. These data are not at Statistics Finland's disposal by the release date of the volume index of industrial output. For this reason the data on these enterprises are estimated for the month the release relates. The payment control data will be available when releasing data for the month for the second time, i.e. in the data for August. Revised data for September 2010 will be published at 9 am on 10 December 2010 in connection with the release of industrial output data for October 2010. 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.

Seasonal adjustment models have been reviewed

The used seasonal adjustment models have been reviewed and amended in the case of some industries in connection with the release of data concerning September. This also affects seasonally adjusted point figures and change percentages of previous months. In accordance with international recommendations, seasonal adjustment models should be reviewed once a year.

Source: Volume Index of Industrial Output 2010, September. Statistics Finland

Inquiries: Kari Rautio (09) 1734 2479, Jukka Appelqvist (09) 1734 3391, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output grew by 8.6 per cent in September (10.11.2010)

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Updated 10.11.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. September 2010. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/09/ttvi_2010_09_2010-11-10_tie_001_en.html