Published: 10 September 2020

Industrial output grew in July from the month before but fell from the previous year

Seasonally adjusted industrial output (TOL BCD) grew by 0.9 per cent in July from the month before. According to Statistics Finland, industrial output adjusted for working days was 6.1 per cent lower in July 2020 than in July 2019. During January to July, working day adjusted output went down by 3.3 per cent from the year before.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/07

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2020/07

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

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

Examined by main industry, seasonally adjusted industrial output decreased in July in nearly all industries. The fall was strongest in the industry of mining and quarrying, 11.9 per cent from the previous month. Output in the electrical and electronics industry decreased by 1.7 per cent and in the metal and forest industries by 0.7 per cent compared to June. Output grew slightly only in the food industry, by 1.6 per cent.

Compared to one year ago, output grew only in the chemical industry, by 1.0 per cent from July 2019. In other main industries output was falling. The fall was also strongest compared to one year back in mining and quarrying, where output declined by 22.4 per cent. Output went down by 11.2 per cent in the electrical and electronics industry, by 8.4 per cent in the forest industry and by 8.1 per cent in the metal industry from the year before. Output in the food industry decreased by 1.2 per cent year-on-year.

Seasonal adjusted change in industrial output by industry, 06/2020 to 07/2020, %, TOL 2008

Seasonal adjusted change in industrial output by industry, 06/2020 to 07/2020, %, TOL 2008

Revised data for July 2020 will be published at 8 am on 9 October 2020 in connection with the release of industrial output data for August 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, July. Statistics Finland

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

Director in charge: Mari Ylä-Jarkko

Publication in pdf-format (374.7 kB)

Reviews
Tables

Tables in databases

Figures
Revisions in these statistics

Updated 10.9.2020

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. July 2020. Helsinki: Statistics Finland [referred: 20.9.2020].
Access method: http://www.stat.fi/til/ttvi/2020/07/ttvi_2020_07_2020-09-10_tie_001_en.html