Industrial output fell in June both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) fell by 0.8 per cent in June from the month before. According to Statistics Finland, industrial output adjusted for working days was 6.9 per cent lower in June 2020 than in June 2019. June 2020 had two working days more than June 2019. During January to June, working day adjusted output went down by 2.8 per cent from the year before.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/06

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

Examined by main industry, seasonally adjusted industrial output decreased in June most in mining and quarrying, by 14 per cent. Output in the electrical and electronics industry decreased by 5.7 per cent and in the chemical industry by 3.4 per cent from the month before. Output went up most in the food industry, by 3.6 per cent compared to May. Some growth was also recorded in the metal industry, up by 0.3 per cent and in the forest industry, by 0.2 per cent.

Output was falling in almost all main industries in June compared to one year back. Output went down most in the chemical industry, by 11.4 per cent. Output in the forest industry declined by 6.9 per cent, in the metal industry by 3.8 per cent, and in the industry of electricity, gas, steam and air conditioning supply by 2.8 per cent from June 2019.

Seasonal adjusted change in industrial output by industry, 05/2020 to 06/2020, %, TOL 2008

Revised data for June 2020 will be published at 8 am on 10 September 2020 in connection with the release of industrial output data for July 2020. 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 2020, June. Statistics Finland

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

Director in charge: Mari Ylä-Jarkko

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Industrial output decreased by 6.9 per cent year-on-year in June (10.8.2020)

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Revisions in these statistics (10.8.2020)

Updated 10.8.2020

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. June 2020. Helsinki: Statistics Finland [referred: 23.4.2024].
Access method: http://www.stat.fi/til/ttvi/2020/06/ttvi_2020_06_2020-08-10_tie_001_en.html