Industrial output decreased by 2.6 per cent year-on-year in July

According to Statistics Finland, output of total industries adjusted for working days was 2.6 per cent lower in July 2014 than twelve months earlier. In the January to July period, industrial output adjusted for working days went down by 3.8 per compared with the corresponding period in 2013

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

Seasonally adjusted output fell in July by 0.3 per cent compared with the previous month. In June, seasonally adjusted output grew by 0.6 per cent. In May, output decreased by 0.4 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 July. The metal industry’s output declined most, by 5.9 per cent. In the food industry, output decreased by 4.3 per cent. The highest growth, 15.3 per cent, was recorded for mining and quarrying. In the chemical industry, output grew by 7.1 per cent in July year-on-year.

Working day adjusted change in industrial output by industry 7/2013-7/2014, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 73.7 per cent in July, or 1.3 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 79.2 per cent in July, or one percentage points lower than in July 2013. In the metal industry, capacity utilisation rate was 73.4 per cent in July, which was one percentage points lower than one year earlier.

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

Inquiries: Kari Rautio 029 551 2479, Heidi Myllyl� 029 551 3792, volyymi.indeksi@stat.fi

Director in charge: Hannele Orjala

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Industrial output decreased by 2.6 per cent year-on-year in July (10.9.2014)

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Updated 10.9.2014

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2014. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2014/07/ttvi_2014_07_2014-09-10_tie_001_en.html