Industrial trends 

Updated: 10.4.2018 - Next update: 10.5.2018
   
 
 
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Industrial output grew in February year-on–year but decreased from the previous month

Seasonally adjusted industrial output (TOL BCD) decreased in February by 1.2 per cent from the previous month. According to Statistics Finland, industrial output adjusted for working days was 3.4 per cent higher in February 2018 than in February 2017.

Seasonally adjusted output went down by 1.2 per cent in February from the month before. In January, seasonally adjusted output went down by 0.2 per cent from December.

Among the main industries, seasonally adjusted industrial output decreased in February most, by 12.6 per cent, in the mining and quarrying. In the electrical and electronic industry, seasonally adjusted output was 4.3 per cent lower in February than in January. In the metal industry output decreased 2.2 per cent in February from the month before. Output increased most, by 5.3 per cent, in the electricity, gas, steam and air conditioning supply.

Statistical release

Source:
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.