Industrial output decreased by 5.0 per cent year-on-year in March

According to Statistics Finland, output of total industries adjusted for working days was 5.0 per cent lower in March 2014 than twelve months earlier. In the January to March period, industrial output adjusted for working days went down by 5.8 per compared with the corresponding period in 2013. Seasonally adjusted industrial output has also grown in two successive months. New orders in manufacturing that anticipate the development of industrial output has grown in the early part of the year.

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

Seasonally adjusted output increased in March by 0.6 per cent from February. In February, seasonally adjusted output was 0.4 per cent higher than in January. In January, output decreased by 3.4 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 March. The biggest drop of nearly 18 per cent was seen in the production of electricity. In the food industry, output decreased by 6.1 per cent. In the metal industry, output was 4,9 per cent down in March on twelve months back. Output in the chemical industry was in March 6.9 per cent up on twelve months back.

Working day adjusted change in industrial output by industry 3/2013-3/2014, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 80.1 per cent in March, or 0.1 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 86.9 per cent in March, or 2.6 percentage points higher than in March 2013. In the metal industry, capacity utilisation rate was 80.1 per cent in March , which was 0.6 percentage points lower than one year earlier.

Revised data for March 2014 will be published at 9 am on 10 June 2014 in connection with the release of industrial output data for April 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, March. Statistics Finland

Inquiries: Kari Rautio 09 1734 2479, Heidi Myllyl� 09 1734 3792, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output decreased by 5.0 per cent year-on-year in March (9.5.2014)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. March 2014. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/03/ttvi_2014_03_2014-05-09_tie_001_en.html