Industrial output decreased by 4.8 per cent year-on-year in January

According to Statistics Finland, output of total industries adjusted for working days was 4.8 per cent lower in January 2013 than twelve months earlier.

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

Seasonally adjusted output fell in January by 3.6 per cent compared with December. In December, seasonally adjusted output was one per cent higher than in November. In November, output went down by 0.7 per cent from the comparison period.

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

Industrial output decreased in January among most main industries. Output fell most in the electrical and electronics industry, by 14.8 per cent and in the metal industry by 11.8 per cent. In the food industry output decreased by 4 per cent. Growth industries included production of electricity that increased by 5.3 per cent. Output in the forest industry grew by almost 3 per cent. Mining remained at last year's level in January.

Working day adjusted change in industrial output by industry 1/2012-1/2013, %, TOL 2008

In January, capacity utilisation rate in manufacturing (C) was 79.7 per cent, i.e. 0.8 percentage points higher than in January 2012. In the forest industry, capacity utilisation rate was 84.9 per cent in January, or 7.7 percentage points higher than in January 2012. In the metal industry, capacity utilisation rate was 79.3 per cent in January, which was 1.6 percentage points lower than one year earlier.

After the plunge in 2009, industrial output grew by just under 6 per cent in 2010. In 2011, the output grew by 1.7 per cent. According to preliminary data, industrial output fell by 2.2 per cent in 2012 from one year earlier.

Year-on-year change in the volume index of industrial output (BCDE) 2000-2012, %, TOL 2008

Revised data for January 2013 will be published at 9 am on 10 April 2013 in connection with the release of industrial output data for February 2013. 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 is utilised for the calculation of the Volume Index of Industrial Output starting from the statistics for January 2013.

Source: Volume Index of Industrial Output 2013, January. 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 4.8 per cent year-on-year in January (8.3.2013)

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Updated 8.3.2013

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January 2013. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2013/01/ttvi_2013_01_2013-03-08_tie_001_en.html