Industrial output curves upward

Adjusted for working days, industrial output went up by 0.8 per cent in May 2019 year on year. Seasonally adjusted output in turn fell by 0.9 per cent from the month before.

According to the revised data, working-day adjusted output rose in April by 1.8 per cent (previously 2.8 per cent) from that in April 2018, said the Statistics Finland in a bulletin.

The series of Trend Indicators of Output are seasonally adjusted with the Tramo/Seats method. The latest observations of the series adjusted for seasonal and random variation (seasonally adjusted and trend series) become revised with new observations in seasonal adjustment methods.

Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data.

Working day adjusted primary production declined by about four per cent, secondary production grew by close on one per cent, and services by around one per cent from that in May 2018.

Primary production refers to agriculture, hunting, forestry and fishing. Secondary production includes manufacturing and construction. Services comprise trade, hotel and restaurant activities, transport and business activities, as well as real estate, renting and research services, financial intermediation and insurance, and public services.