Industrial output decreased by 1.3 per cent year-on-year in July

According to Statistics Finland, output of total industries adjusted for working days was 1.3 per cent lower in July 2015 than in July 2014. During January to July, industrial output declined by three per cent year-on-year. Industrial output adjusted for working days has decreased continuously year-on-year since January 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 1.3 per cent from May. In May, seasonally adjusted output decreased by 0.8 per cent month-on-month.

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

Industrial output diminished in most main industries in July. Output declined most, or by good 55 per cent, in mining and quarrying. This was mainly caused by a rainy early summer that made peat production difficult. Output in the electrical and electronics industry decreased by 8.5 per cent. In the chemical industry, output diminished by 1.5 per cent. In the metal industry, output diminished by 0.1 per cent in July from one year ago.

Working day adjusted change in industrial output by industry 7/2014-7/2015, %, TOL 2008

In July, capacity utilisation rate in manufacturing (C) was 74 per cent, or 0.1 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 83.8 per cent in July, or 4.2 percentage points higher than in July 2014. In the metal industry, capacity utilisation rate was 72.8 per cent in July, i.e. on level with one year before.

Revised data for July 2015 will be published at 9 am on 9 October 2015 in connection with the release of industrial output data for August 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, July. Statistics Finland

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

Director in charge: Mari Yl�-Jarkko

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Industrial output decreased by 1.3 per cent year-on-year in July (10.9.2015)

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Updated 10.9.2015

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2015. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2015/07/ttvi_2015_07_2015-09-10_tie_001_en.html