Industrial output fell by 1.7 per cent year-on-year in May

According to Statistics Finland, output of total industries adjusted for working days was 1.7 per cent lower in May 2012 than twelve months earlier. Over the January to May period, industrial output decreased by 3.3 per cent year-on-year.

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

In May, seasonally adjusted output went up by 1.2 per cent from April. In April, output grew by 0.6 per cent from the previous month. In March, seasonally adjusted output was 0.3 per cent higher than in February.

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

Among the examined main industries output decreased by most, or by nearly 37 per cent, in mining and quarrying. The production of electricity decreased by good 13 per cent year-on-year. In the forest industry, output was 9 per cent down on twelve months back. In the metal industry, output was 4.8 per cent higher than in May 2011. Among the main industries, output grew by most in the electrical and electronics industry where it went up by good 10 per cent.

Working day adjusted change in industrial output by industry 5/2011-5/2012, %, TOL 2008

Capacity utilisation rate in manufacturing was 84.8 per cent in May, or almost on level with twelve months earlier. In the forest industry, capacity utilisation rate was 88.8 per cent in May, or 1.5 percentage points lower than in May 2011. Capacity utilisation rate in the metal industry was 86.9 per cent in May, which was 0.6 percentage points higher than twelve months earlier. In mining and quarrying capacity utilisation rate fell by over 20 percentage points year-on-year to 56 per cent.

Revised data for May 2012 will be published at 9 am on 10 August 2012 in connection with the release of industrial output data for June 2012. The revision is influenced by the estimation used in the latest release which concerns 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, May. Statistics Finland

Inquiries: Salla Simola 09 1734 3308, Eetu Toivanen 09 1734 3331, Kari Rautio 09 1734 2479, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output fell by 1.7 per cent in May (10.7.2012)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2012. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2012/05/ttvi_2012_05_2012-07-10_tie_001_en.html