Industrial output fell in September both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) fell by 2.1 per cent in September from the month before. According to Statistics Finland, industrial output adjusted for working days was 6.0 per cent lower in September 2020 compared to September 2019. Adjusted for working days, industrial output went down by 3.5 per cent in January to September from one year back.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/09

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

Examined by main industry, seasonally adjusted industrial output grew most in September in the industry of mining and quarrying, by 20.9 per cent from the previous month. In all other main industries, output either fell or grew only a little. Output decreased most in electricity, gas, steam and air conditioning supply, by 7.9 per cent, and in the electrical and electronics industry, by 7.3 per cent from August.

Compared with the previous year, output grew in September somewhat only in the chemical industry, by 0.7 per cent. The fall was still strongest in mining and quarrying, where output declined by 17.1 per cent from one year back. Output in both the forest industry and in electricity, gas, steam and air conditioning supply declined by 7.2 per cent compared with September 2019.

Seasonal adjusted change in industrial output by industry, 08/2020 to 09/2020, %, TOL 2008

Revised data for September 2020 will be published at 8 am on 10 December 2020 in connection with the release of industrial output data for October 2020. The revision is influenced by the estimation used in the latest release, which is based on the Tax Administration's data on self-assessed taxes 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 are also adjusted for working days.

Source: Volume Index of Industrial Output 2020, September. Statistics Finland

Inquiries: Maarit Mäkelä 029 551 3324, Kirsi-Maaria Manninen 029 551 2681, volyymi.indeksi@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Industrial output decreased by 6.0 per cent year-on-year in September (10.11.2020)

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Revisions in these statistics (10.11.2020)

Updated 10.11.2020

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. September 2020. Helsinki: Statistics Finland [referred: 17.12.2024].
Access method: http://www.stat.fi/til/ttvi/2020/09/ttvi_2020_09_2020-11-10_tie_001_en.html