Industrial output grew by 6.2 per cent in November

According to Statistics Finland, output of total industries adjusted for working days was 6.2 per cent higher in November 2010 than twelve months earlier. In October, output was 10.8 per cent higher than one year earlier. In the January to November period, industrial output increased by 5.4 per cent from twelve months back.

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

In November, seasonally adjusted output decreased by one per cent from the previous month. In October, output increased by 1.3 per cent from the previous month. In September, seasonally adjusted output went up by one per cent from August.

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

Output went up in most main industries in November. The biggest increase in output was recorded in the energy industry. Its output grew by 14 per cent from twelve months back. Output in the metal industry (excl. electrical and electronics industry) went up by 13.8 per cent. In the forest industry, output grew by just under 5 per cent from one year ago. In the food industry, output grew by 1.8 per cent and in the chemical industry by just under one per cent in November. Output in the electrical and electronics industry decreased by 1.7 per cent.

Working day adjusted change in industrial output by industry 11/2009-11/2010, %, TOL 2008

Capacity utilisation rate in manufacturing was 78.3 per cent in November, or 6.4 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 84.4 per cent in November, and had risen by 8.1 percentage points from one year back. In the metal industry, capacity utilisation rate was 75.2 per cent in November, or 5.4 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 November was estimated. In the electrical and electronics industry (26-27), estimation was used in the calculation of the November 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 November. The payment control data will be available when releasing data for the month for the second time, i.e. in the data for October.

Revised data for November 2010 will be published at 9 am on 10 February 2011 in connection with the industrial output data for December 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

Source: Volume Index of Industrial Output 2010, November. 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 6.2 per cent in November (10.1.2011)

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Updated 10.1.2011

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2010. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2010/11/ttvi_2010_11_2011-01-10_tie_001_en.html