Industrial output decreased by 2.8 per cent year-on-year in August

According to Statistics Finland, output of total industries adjusted for working days was 2.8 per cent lower in August 2016 than in August 2015. In the January to August period, industrial output adjusted for working days went up by one per cent from one year ago. August 2016 had two working days more than August 2015. Original industrial output grew by 1.9 per cent.

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

Seasonally adjusted output decreased by 3.4 per cent in August. In July, output increased by 0.8 per cent from the previous month. In June, seasonally adjusted output grew by 0.8 per cent from May.

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

Among the main industries, output decreased most in mining and quarrying, by 39.8 per cent. The rainy August did not favour peat production. In the metal industry, output decreased by 0.6 per cent in August from twelve months back. In the chemical industry, output decreased by 0.8 per cent from twelve months back. In the food industry, output declined by 3.6 per cent in August. Among the main industries, output increased by nearly one per cent in the generation of electricity in August. In addition, output in the electrical and electronics industry was 8.4 per cent up on twelve months back.

Working day adjusted change in industrial output by industry 8/2015-8/2016, %, TOL 2008

Capacity utilisation rate in manufacturing (C) was 80.2 per cent in August, which was 0.2 percentage point lower than one year earlier. In the forest industry, capacity utilisation rate was 88.1 per cent in August, or 3.9 percentage points higher than in August 2015. In the metal industry, capacity utilisation rate was 79.7 per cent in August, which was 2.1 percentage points lower than one year earlier.

Revised data for August 2016 will be published at 9 am on 10 November 2016 in connection with the release of industrial output data for September 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, August. 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 2.8 per cent year-on-year in August (10.10.2016)

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Updated 10.10.2016

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. August 2016. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2016/08/ttvi_2016_08_2016-10-10_tie_001_en.html