Industrial output decreased month-on-month in June but increased year back

Seasonally adjusted industrial output (TOL BCD) decreased by 2.0 per cent in June from the month before. According to Statistics Finland, industrial output adjusted for working days was 4.1 per cent higher in June 2021 than in June 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/06

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

Examined by main industry, seasonally adjusted industrial output decreased in June in nearly all industries. The decline was strongest in the industry of mining and quarrying, down by 18.0 per cent from the previous month. Output decreased by 7.4 per cent in the electrical and electronics industry, by 3.3 per cent in the metal industry and by 3.2 per cent in electricity, gas, steam and air conditioning supply compared to May. Only the food industry, 2.0 per cent, and the chemical industry, 0.2 per cent, had slightly more output than in May.

Compared to the previous year, output increased most, or by 11.8 per cent, in the forest industry. In the chemical industry, output was 7.4 per cent higher and in the metal industry 6.0 per cent higher than in June 2020. Output decreased in June in mining and quarrying, by 10.1 per cent, and in the industry of electricity, gas, steam and air conditioning supply, by 4.1 per cent compared to the previous year.

Seasonal adjusted change in industrial output by industry, 05/2021 to 06/2021, %, TOL 2008

Revised data for June 2021 will be published at 8 am on 10 September 2021 in connection with the release of industrial output data for July 2021. 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 2021, June. Statistics Finland

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

Head of Department in charge: Katri Kaaja

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Industrial output increased by 4.1 per cent year-on-year in June (10.8.2021)

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Updated 10.8.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. June 2021. Helsinki: Statistics Finland [referred: 20.12.2024].
Access method: http://www.stat.fi/til/ttvi/2021/06/ttvi_2021_06_2021-08-10_tie_001_en.html