|Updated: 10.12.2013 - Next update: 10.1.2014|
Industrial output decreased by 3.4 per cent year-on-year in October
According to Statistics Finland, output of total industries adjusted for working days was 3.4 per cent lower in October 2013 compared to October 2012. In the January to October period, industrial output adjusted for working days went down by four per cent from twelve months back.
In October, seasonally adjusted output fell by 0.6 per cent from September. In September, seasonally adjusted output was 0.2 per cent lower than in August. In August, output decreased by 0.1 per cent from the previous month.
Industrial output diminished in several main industries in October. Output fell most in the electrical and electronics industry, by 16.1 per cent. In the metal industry, output went down by 6.5 per cent from the previous year. Among main industries, output increased by most, or by 3.9 per cent, in the chemical industry. In the forest industry, output grew by 2.5 per cent in October from one year ago.
Capacity utilisation rate in manufacturing (C) was 83 per cent in October, or 0.3 percentage points higher than one year earlier. In the forest industry, capacity utilisation rate was 88 per cent in October, or 2.4 percentage points higher than in October 2012. In the metal industry, capacity utilisation rate was 83.5 per cent in October, which was 1.6 percentage points lower than one year earlier.
Revised data for October 2013 will be published at 9 am on 10 January 2014 in connection with the release of industrial output data for November 2013. 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.Statistical release
Statistics Finland / Volume index of industrial output
Description of indicator
The volume index of industrial output describes the relative change in the volume of industrial output at fixed prices when compared with a specific base period. The volume index of industrial output is based on an inquiry sent to enterprises or establishments. Enterprises and establishments are asked about volume or value data every month.
An adjustment for working days takes into account influences arising from the number of working days.
Economic conditions for industry widely affect the growth of society and the balance of general government finances. Fluctuations in economic conditions for industry are reflected in the sector-specific development of the labour market and the diversity of the economic structure, which in turn are reflected in the level of investment, construction and jobs. In addition to general economic development, economic conditions are also reflected in the vitality and competitiveness of the labour market’s operating environment.
Furthermore, the industrial development trend has spill-over effects into industrial sector-specific growth, which is evident, for example, in energy consumption trends, particularly in the energy-intensive sectors of industry. One role of the public sector is to encourage sustainable and energy-efficient business activity and at the same time to ensure good operating conditions for businesses through reasonable taxation as well as political action that activates business and industry and promotes competitiveness.