Industrial output grew by 1.8 per cent year-on year in October

According to Statistics Finland, output of total industries adjusted for working days was 1.8 per cent higher in October 2017 compared to October 2016. Adjusted for working days, industrial output went up by 3.4 per cent in January to October from one year back.

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

In October, seasonally adjusted output decreased by 0.3 per cent from the month before. In September, seasonally adjusted output grew by 0.2 per cent from August. In August, seasonally adjusted output declined by 0.3 per cent from July.

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

In October, output grew in several main industries. Output grew most in mining and quarrying, by 4.9 per cent. Output in the metal industry went up by 4.8 per cent. Output in the forest industry increased by 1.7 per cent and in the food industry by 0.3 per cent from one year ago. Output declined most, by 3.7 per cent, in the electrical and electronics industry.

Working day adjusted change in industrial output by industry 10/2016-10/2017, %, TOL 2008

In October, the capacity utilisation rate in manufacturing (C) was 84.1 per cent, or 1.2 percentage points higher than one year earlier. The capacity utilisation rate in the forest industry was 88.0 per cent in October, which was 1.9 percentage points lower than twelve months earlier. In the metal industry, the capacity utilisation rate was 86.1 percentage points in October, which was 3.0 per cent higher than one year earlier.

Revised data for October 2017 will be published at 9 am on 10 January 2018 in connection with the release of industrial output data for November 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.

The base year 2015 will be utilised for the calculation of the Volume Index of Industrial Output starting from the statistics for January 2018. Data calculated with the new base year will be released for the first time on 9 March 2018.

Source: Volume Index of Industrial Output 2017, October. 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 1.8 per cent year-on year in October (8.12.2017)

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Updated 8.12.2017

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. October 2017. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2017/10/ttvi_2017_10_2017-12-08_tie_001_en.html