Industrial output grew by 4.5 per cent year-on year in August

According to Statistics Finland, output of total industries adjusted for working days was 4.5 per cent higher in August 2017 than in August 2016. Adjusted for working days, industrial output went up by 3.2 per cent in January to August from one year back.

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

In August, seasonally adjusted output went down by 0.4 per cent from the month before. In July, output grew by 0.5 per cent from June. In June, seasonally adjusted output fell by 0.5 per cent from May.

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

In August, output grew in several main industries. Output rose most, by 9.6 per cent, in the metal industry. In the chemical industry, output grew by 4.6 per cent, in the forest industry by 4.5 per cent and in the food industry by 2.9 per cent year-on-year. Output declined most, by 8.4 per cent, in mining and quarrying. The rainy August made the production of peat difficult.

Working day adjusted change in industrial output by industry 8/2016-8/2017, %, TOL 2008

In August, capacity utilisation rate in manufacturing (C) was 83.8 per cent, or 3.5 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 89.5 per cent in August, or 0.1 percentage points lower than one year earlier. In the metal industry, capacity utilisation rate was 84.1 per cent August, which was 5.6 percentage points higher than one year earlier.

Revised data for August 2017 will be published at 9 am on 10 November 2017 in connection with the release of industrial output data for September 2017. 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 2017, August. Statistics Finland

Inquiries: Kari Rautio 029 551 2479, Maarit M�kel� 029 551 3324, volyymi.indeksi@stat.fi

Director in charge: Sami Saarikivi

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Industrial output grew by 4.5 per cent year-on year in August (10.10.2017)

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Updated 10.10.2017

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. August 2017. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/ttvi/2017/08/ttvi_2017_08_2017-10-10_tie_001_en.html