Industrial output grew by 11.3 per cent in October

According to Statistics Finland, output of total industries adjusted for working days was 11.3 per cent higher in October 2010 than twelve months earlier. In September, output was 8.8 per cent higher than one year earlier. In the January to October period, industrial output increased by 5.0 per cent from twelve months back.

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

In October, seasonally adjusted output went up by 1.5 per cent from the previous month. In September, output increased by 1.2 per cent from the previous month. In August, seasonally adjusted output grew by 2.6 per cent from July.

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

Output went up in most main industries in October. The biggest increase was recorded in the metal industry exclusive of manufacture of electrical and electronic products, where output went up by 22.3 per cent. In the metal industry, output grew by 16.8 per cent. In the chemical industry, output increased by 14.8 per cent in October. Output in the electrical and electronics industry went up by 7.6 per cent. In the food industry, the increase in output amounted to one per cent in October. The strong growth that had continued in the forest industry for almost a year turned to a decline of 1.1 per cent.

Working day adjusted change in industrial output by industry 10/2009-10/2010, %, TOL 2008

Capacity utilisation rate in manufacturing was 76.6 per cent in October, or 5.9 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 83 per cent in October, and had risen by 3.2 percentage points from one year back. In the metal industry, capacity utilisation rate was 72.4 per cent in October, or 7.9 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 October was estimated. In the electrical and electronics industry, (26-27) estimation was used in the calculation of the October 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 to, i.e. in this case October. The payment control data will be available when releasing data for the month for the second time, i.e. in the data for September. Revised data for October will be published at 9 am on 10 January 2011 in connection with the release of industrial output data for November. 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 2010, October. Statistics Finland

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

Director in charge: Hannele Orjala

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Industrial output grew by 11.3 per cent in October (10.12.2010)

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Updated 10.12.2010

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2010. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/10/ttvi_2010_10_2010-12-10_tie_001_en.html