Industrial output decreased by 1.9 per cent year-on-year in November

According to Statistics Finland, output of total industries adjusted for working days was 1.9 per cent lower in November 2012 than twelve months earlier. In the January to November period, industrial output adjusted for working days went down by 1.5 per cent from twelve months back.

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

Seasonally adjusted output fell by 0.5 per cent in November from the month before. In October, seasonally adjusted output was 0.6 per cent higher than in September. In September and August, output declined by good one per cent from the reference period.

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

Among the main industries, output decreased by most, or by 21 per cent, in the electrical and electronics industry. Adjusted for working days, output in mining and quarrying fell by 8.7 per cent from November 2011. Output went down by 7.3 per cent in the metal industry. Output in the chemical industry increased by 12.2 per cent from the previous year. In the forest industry, output was 3.6 per cent higher than one year ago.

Working day adjusted change in industrial output by industry 11/2011-11/2012, %, TOL 2008

In November, capacity utilisation rate in manufacturing (C) was 84 per cent, or 2.7 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 88 per cent in November, or 4.4 percentage points higher than in November 2011. In the metal industry, capacity utilisation rate was 86.5 per cent in November, which was 6.1 percentage points higher than one year earlier. Capacity utilisation rate in the chemical industry decreased in November by 1.3 percentage points from the previous year to 82.6 per cent.

Revised data for November 2012 will be published at 9 am on 8 February 2013 in connection with the release of industrial output data for December 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.

The base year 2010 will be utilised for the calculation of the Volume Index of Industrial Output starting from the statistics for January 2013. Data calculated with the new base year will be released for the first time on 8 March 2013.

Source: Volume Index of Industrial Output 2012, November. Statistics Finland

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

Director in charge: Hannele Orjala

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Industrial output decreased by 1.9 per cent year-on-year in November (10.1.2013)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2012. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2012/11/ttvi_2012_11_2013-01-10_tie_001_en.html