Published: 10 January 2018

Industrial output grew by 3.4 per cent year-on year in November

According to Statistics Finland, output of total industries adjusted for working days was 3.4 per cent higher in November 2017 than in November 2016. Adjusted for working days, industrial output went up by 3.5 per cent in January to November from one year back.

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

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

Seasonally adjusted output went up by 0.5 per cent in November from the month before. In October, seasonally adjusted output grew by 0.1 per cent from September. In September, seasonally adjusted output grew by 0.4 per cent from August.

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

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

In November, output grew in several main industries. Output increased most in mining and quarrying by 9.6 per cent. In the forest industry, output went up by 6.9 per cent. Output in the metal industry went up by 6.1 per cent from one year ago and in the food industry by 4.1 per cent year-on-year. Output declined most, by 4.7 per cent, in the chemical industry.

Working day adjusted change in industrial output by industry 11/2016-11/2017, %, TOL 2008

Working day adjusted change in industrial output by industry 11/2016-11/2017, %, TOL 2008

In November, capacity utilisation rate in manufacturing (C) was 83.7 per cent, or 0.6 percentage points higher than one year earlier. Capacity utilisation rate in the forest industry was 90.3 per cent in November, which was 0.7 percentage points lower than one year before. In the metal industry, capacity utilisation rate was 84.0 percentage points in November, which was 0.7 per cent higher than one year earlier.

Revised data for November 2017 will be published at 9 am on 9 February 2018 in connection with the release of industrial output data for December 2017. 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.

The base year 2015=100 will be utilised for the calculation of the Volume Index of Industrial Output starting from the statistics for January 2018. Data calculated with the new base year will be released for the first time on 9 March 2018.


Source: Volume Index of Industrial Output 2017, November. Statistics Finland

Inquiries: Kari Rautio 029 551 2479, Maarit Mäkelä 029 551 3324, volyymi.indeksi@stat.fi

Director in charge: Sami Saarikivi

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Updated 10.1.2018

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. November 2017. Helsinki: Statistics Finland [referred: 19.1.2018].
Access method: http://www.stat.fi/til/ttvi/2017/11/ttvi_2017_11_2018-01-10_tie_001_en.html

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