Finland Times

 

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

The total industrial output adjusted for working days decreased by 3.1 per cent in May 2014 in the country, in comparison with what it was twelve months earlier. 

 

According to Statistics Finland, the industrial output adjusted for working days went down by 4.8 per cent in the January to May period, compared with the corresponding period in 2013.

 

In May, seasonally adjusted output went down by 0.2 per cent from April. In April, seasonally adjusted output was 0.5 per cent higher than in March. In March, output decreased by 0.1 per cent from the previous month.

 

Seasonally adjusted change in total industrial output (BCDE) from previous month, %, TOL 2008. Source: Statistics Finland.

Industrial output diminished in all main industries in May. Of them, mining and quarrying decreased most, by 9.5 per cent. Production of electricity has diminished by 1.6 per cent. 

 

In the metal industry, output was 2.4 per cent lower than in May 2013. In the food industry, the decline in output amounted to 5.1 per cent. In the chemical industry, output decreased by 2.4 per cent from twelve months back.

 

Capacity utilisation rate in manufacturing (C) was 81.0 per cent in May, or 0.7 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 85.4 per cent in May, or 3.3 percentage points lower than in May 2013. In the metal industry, capacity utilisation rate was 82.3 per cent in May, which was 1.0 percentage points higher than one year earlier.

 

Working day adjusted change in industrial output by industry 5/2013-5/2014, %, TOL 2008. Source: Statistics Finland.

Revised data for May 2014 will be published on August 8 in connection with the release of industrial output data for June 2014. 

 

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.