Industrial output increased by one per cent year-on-year in May

According to Statistics Finland, output of total industries adjusted for working days was one per cent higher in May 2016 than twelve months earlier. In the January to May period, industrial output adjusted for working days went up by 0.2 per cent from one year ago.

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

In May, seasonally adjusted output went down by 0.5 per cent from April. In April, seasonally adjusted output grew by 2.3 per cent. In March, seasonally adjusted output decreased by 2.4 per cent month-on-month.

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

Among the main industries, output grew most in mining and quarrying, by 101 per cent. The growth came primarily from peat production that was boosted by favourable weather conditions in May. In May, output in the metal industry was 5.1 per cent up on twelve months back. In the forest industry, output grew by close on one per cent. In May, the largest decrease of 8.4 per cent was recorded in production of electricity.

Working day adjusted change in industrial output by industry 5/2015-5/2016, %, TOL 2008

In May, capacity utilisation rate in manufacturing (C) was 83.6 per cent, or 2.9 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 89.6 per cent in May, or 1.3 percentage points lower than in May 2015. In the metal industry, capacity utilisation rate was 85.1 per cent in May, which was 3.7 percentage points higher than one year earlier.

Revised data for May 2016 will be published at 9 am on 10 August 2016 in connection with the release of industrial output data for June 2016. 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 2016, May. 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 increased by one per cent year-on-year in May (8.7.2016)

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Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2016. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2016/05/ttvi_2016_05_2016-07-08_tie_001_en.html