Industrial output grew in July both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) grew by 1.0 per cent in July from the month before. According to Statistics Finland, industrial output adjusted for working days was 5.0 per cent higher in July 2021 than in July 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/07

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

Examined by main industry, seasonally adjusted industrial output grew most in July in the industry of mining and quarrying, by 4.0 per cent from the previous month. In the food industry, output grew by 1.3 per cent and in the metal industry by 0.9 per cent compared to June. Output fell in the other main industries. Output in the electrical and electronics industry decreased by 3.5 per cent and in the chemical industry by 0.7 per cent from the month before.

Compared to one year ago, output increased again most in the forest industry, by 10.6 per cent. Output grew by 10.4 per cent in mining and quarrying, by 7.5 per cent in the metal industry and by 6.9 per cent in the food industry compared to July 2020. Output fell from the previous year in the industries of electricity, gas, steam and air conditioning supply, by 4.0 per cent, in the electrical and electronics industry, by 3.1 per cent, and in the chemical industry by 2.2 per cent.

Seasonal adjusted change in industrial output by industry, 06/2021 to 07/2021, %, TOL 2008

Revised data for July 2021 will be published at 8 am on 8 October 2021 in connection with the release of industrial output data for August 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, July. 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 5.0 per cent year-on-year in July (10.9.2021)

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Revisions in these statistics (10.9.2021)

Updated 10.9.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2021. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/ttvi/2021/07/ttvi_2021_07_2021-09-10_tie_001_en.html