Industrial output fell by 5.7 per cent year-on-year in March

According to Statistics Finland, output of total industries adjusted for working days was 5.7 per cent lower in March 2012 than twelve months earlier. In the early part of the year, industrial output fell by nearly 5 per cent year-on-year.

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

Seasonally adjusted output decreased in March by 1.5 per cent from February. In February, seasonally adjusted output increased by 1.5 per cent from the previous month. In January, seasonally adjusted output was 4.9 per cent lower than in December.

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

Industrial output diminished in most of the main industries in March. The biggest drop of nearly 20 per cent was seen in the production of electricity. The decline also continued in March in mining and quarrying where output fell by 15.4 per cent. In the forest industry, output decreased by 7.8 per cent from one year ago. In the metal industry, output was 1.5 per cent down on March 2011. Among the main industries, growth was only seen in the food industry where it amounted to one per cent.

Working day adjusted change in industrial output by industry 3/2011-3/2012, %, TOL 2008

Capacity utilisation rate in manufacturing was 84.5 per cent in March, or 1.7 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 87.9 per cent in March, or 1.6 percentage points lower than in March 2011. Capacity utilisation rate in the metal industry was 87.1 per cent in March, which was 4.4 percentage points higher than twelve months earlier.

Revised data for March 2012 will be published at 9 am on 8 June 2012 in connection with the release of industrial output data for April 2012. The revision was caused by the estimation used concerning industry 26 to 27 and the periodic tax return data used for enterprises with fewer than 50 employees. 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 2012, March. Statistics Finland

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

Director in charge: Hannele Orjala

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Industrial output fell by 5.7 per cent in March (10.5.2012)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. March 2012. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2012/03/ttvi_2012_03_2012-05-10_tie_001_en.html