Industrial output decreased by 5.2 per cent year-on-year in December

According to Statistics Finland, output of total industries adjusted for working days was 5.2 per cent lower in December 2013 compared to December 2012. According to preliminary data, industrial output decreased by 3.4 per cent in 2013 from the year before. According to preliminary data, industrial output decreased by around two per cent in 2012 from the year before. The last time industrial output has decreased in two successive years was in 1990 and 1991.

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

In December, seasonally adjusted output fell by 2.2 per cent from November. In November, seasonally adjusted output was 0.9 per cent higher than in October. In October, output decreased by 0.1 per cent from the previous month.

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

Industrial output diminished in several main industries in December. Output declined most, by 23.1 per cent, in mining and quarrying. In December, the output in the electrical and electronics industry was 20.1 per cent lower than in December 2012. In the chemical industry, output was 3.7 per cent down on December 2012. Among main industries, output increased by most, or by 6.2 per cent, in the forest industry. Output also grew in the food industry in December by 1.7 per cent from one year back.

Working day adjusted change in industrial output by industry 12/2012-12/2013, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 76.3 per cent in December, or 2.3 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 76.7 per cent in December, or four percentage points higher than in December 2012. In the metal industry, capacity utilisation rate was 77.8 per cent in December, which was 2.2 percentage points higher than one year earlier.

Revised data for December 2013 will be published at 9 am on 10 March 2014 in connection with the release of industrial output data for January 2014. 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, December. 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 5.2 per cent year-on-year in December (10.2.2014)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2013. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2013/12/ttvi_2013_12_2014-02-10_tie_001_en.html