Published: 9 July 2021

Industrial output grew in May both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) grew by 2.2 per cent in May from the month before. According to Statistics Finland, industrial output adjusted for working days was 8.0 per cent higher in May 2021 than in May 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/05

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/05

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 grew in May in nearly all industries. Output in the electrical and electronics industry increased by 4.6 per cent, in the food industry by 3.6 per cent and in the forest industry by 3.1 per cent from the month before. Output decreased in May most in the industry of mining and quarrying, by 11.4 per cent. Output in electricity, gas, steam and air conditioning supply was 2.8 per cent lower in May than in April.

Output also grew in nearly all main industries from one year ago. Output increased most, by 15.0 per cent, in the metal industry. In the electrical and electronics industry, output in May was 11.4 per cent higher and in the forest industry 11.2 per cent higher than in May 2020. Output decreased in May only in mining and quarrying, by 2.7 per cent and in electricity, gas, steam and air conditioning supply, by 1.1 per cent from May 2020.

Seasonal adjusted change in industrial output by industry, 04/2021 to 05/2021, %, TOL 2008

Seasonal adjusted change in industrial output by industry, 04/2021 to 05/2021, %, TOL 2008

Revised data for May 2021 will be published at 8 am on 10 August 2021 in connection with the release of industrial output data for June 2021. 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 2021, May. Statistics Finland

Inquiries: Jussi Haavisto 029 551 3341, Kirsi-Maaria Manninen 029 551 2681, volyymi.indeksi@stat.fi

Head of Department in charge: Katri Kaaja

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Updated 9.7.2021

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. May 2021. Helsinki: Statistics Finland [referred: 1.8.2021].
Access method: http://www.stat.fi/til/ttvi/2021/05/ttvi_2021_05_2021-07-09_tie_001_en.html