Industrial output decreased by 5.9 per cent year-on-year in May

According to Statistics Finland, output of total industries adjusted for working days was 5.9 per cent lower in May 2013 than twelve months earlier. In the January to May period, industrial output adjusted for working days went down by 5.1 per cent from twelve months back.

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

In May, seasonally adjusted output went up by 1.7 per cent from April. In April, seasonally adjusted output was 4 per cent lower than in March. In March, output increased by 2.2 per cent from the previous month.

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

Industrial output diminished in several main industries in May. Output fell most in the electrical and electronics industry, by 22.4 per cent, and in the metal industry by 13.7 per cent. Among main industries, output increased most in mining and quarrying, which grew by nearly 39 per cent compared with the year before. The food industry grew by one per cent year-on-year.

Working day adjusted change in industrial output by industry 5/2012-5/2013, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 81.9 per cent in May, or 2.3 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 89.0 per cent in May, or 1.9 percentage point higher than in May 2012. In the metal industry, capacity utilisation rate was 80.9 per cent in May, which was 5.5 percentage points lower than one year earlier.

Revised data for May 2013 will be published at 9 am on 9th August 2013 in connection with the release of industrial output data for June 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.

Source: Volume Index of Industrial Output 2013, May. 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 5.9 per cent year-on-year in May (10.7.2013)

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Updated 10.7.2013

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2013. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2013/05/ttvi_2013_05_2013-07-10_tie_001_en.html