Industrial output increased by 6.6 per cent year-on-year in July

According to Statistics Finland, output of total industries adjusted for working days was 6.6 per cent higher in July 2016 than in July 2015. In the January to July period, industrial output adjusted for working days went up by 1.8 per cent from one year ago. Industrial output has been growing since April.

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

In July and June, seasonally adjusted output went up by 1.3 per cent from the previous months. In May, seasonally adjusted output increased by 0.1 per cent from April.

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 115.3 per cent. The growth came primarily from peat production that was boosted by favourable weather conditions. In July, output in the metal industry was 9.9 per cent up on twelve months back. Output in the chemical industry was 4.8 per cent up on twelve months back. In the food industry, output grew by 3.8 per cent in July. Among the main industries, output decreased in July only in the generation of electricity, by 6.2 per cent.

Working day adjusted change in industrial output by industry 7/2015-7/2016, %, TOL 2008

In July, the capacity utilisation rate in manufacturing (C) was 73.6 per cent, or 0.1 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 82.8 per cent in July, or 1.6 percentage points higher than in July 2015. In the metal industry, the capacity utilisation rate was 72.1 per cent in July, which was 1.4 percentage points lower than one year earlier.

Revised data for July 2016 will be published at 9 am on 10/10/2016 in connection with the release of industrial output data for August 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, 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 increased by 6.6 per cent year-on-year in July (9.9.2016)

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Updated 9.9.2016

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2016. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2016/07/ttvi_2016_07_2016-09-09_tie_001_en.html