Industrial output decreased by 5.1 per cent year-on-year in May

According to Statistics Finland, output of total industries adjusted for working days was 5.1 per cent lower in May 2015 than twelve months earlier. During January to May, industrial output declined by 4.7 per cent year-on-year.

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

In May, seasonally adjusted output went down by 0.7 per cent from April. In April, seasonally adjusted output remained unchanged compared with March. In March, seasonally adjusted output decreased by 0.3 per cent month-on-month.

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

Industrial output diminished in all main industries in May. Output declined most, or by nearly 30 per cent, in mining and quarrying. Output in the metal industry fell by five per cent. In the chemical industry, output went down by 14.6 per cent in May from one year ago. Part of the drop is due to a service stoppage in oil refining.

Working day adjusted change in industrial output by industry 5/2014-5/2015, %, TOL 2008

In May, capacity utilisation rate in manufacturing (C) was 79.9 per cent, or 1.1 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 89.3 per cent in May, or 1.7 percentage points higher than in May 2014. In the metal industry, capacity utilisation rate was 80.1 per cent in May, which was 0.6 percentage points lower than one year earlier.

Revised data for May 2015 will be published at 9 am on 10 August 2015 in connection with the release of industrial output data for June 2015. 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 2015, May. 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 5.1 per cent year-on-year in May (10.7.2015)

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Updated 10.7.2015

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2015. Helsinki: Statistics Finland [referred: 22.12.2024].
Access method: http://www.stat.fi/til/ttvi/2015/05/ttvi_2015_05_2015-07-10_tie_001_en.html