Finland Times

 

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

The country’s total industrial output adjusted for working days went down by 2.6 per cent in July 2014 compared to 12 months earlier, while the industrial output adjusted for working days went down in the January to July period by 3.8 per cent compared to the corresponding period in 2013.

 

According to the Statistics Finland, seasonally adjusted output fell in July by 0.3 per cent compared with the previous month. In June, seasonally adjusted output grew by 0.6 per cent. In May, output decreased by 0.4 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 several main industries in July. The metal industry’s output declined most, by 5.9 per cent. In the food industry, output decreased by 4.3 per cent. The highest growth of 15.3 per cent was recorded for mining and quarrying. In the chemical industry, output grew by 7.1 per cent in July year-on-year. 

 

Capacity utilisation rate in manufacturing (C) was 73.7 per cent in July, or 1.3 percentage points lower than one year earlier. In the forest industry, capacity utilisation rate was 79.2 per cent in July, or one percentage points lower than in July 2013. In the metal industry, the capacity utilisation rate was 73.4 per cent in July, which was one percentage points lower than one year earlier. 

 

Working day adjusted change in industrial output by industry 7/2013-7/2014, %, TOL 2008. Source: Statistics Finland.

The revised data for July 2014 will be published on October 10 in connection with the release of industrial output data for August 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. The seasonally adjusted figures will also be adjusted for working days.