Industrial output decreased by 7.5 per cent year-on-year in January

According to Statistics Finland, output of total industries adjusted for working days was 7.5 per cent lower in January 2014 than in January 2013. Industrial output has decreased non-stop for over a year.

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

Seasonally adjusted output fell in January by 3.5 per cent compared with the previous month. In December, seasonally adjusted output was 0.4 per cent lower than in November. In November, output increased 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 almost all main industries in January. Output fell most in the electrical and electronics industry, by 22.8 per cent. In mining and quarrying, output was 11.4 per cent lower than in January 2013. In the chemical industry, output decreased by 3.3 per cent from twelve months back. Among the main industries, growth was only seen in production of electricity, where output increased by 1.7 per cent in January.

Working day adjusted change in industrial output by industry 1/2013-1/2014, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 78.7 per cent in January, or 2.1 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 83.6 per cent in January, or 0.7 percentage points lower than in January 2013. In the metal industry, capacity utilisation rate was 77 per cent in January, which was 3.5 percentage points less than one year earlier.

Revised data for January 2014 will be published at 9 am on 10 April 2014 in connection with the release of industrial output data for February 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 2014, 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 7.5 per cent year-on-year in January (10.3.2014)

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Updated 10.3.2014

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. January 2014. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/01/ttvi_2014_01_2014-03-10_tie_001_en.html