Industrial output grows in August

Seasonally adjusted industrial output (TOL BCD) grew by 0.4 per cent in August from the month before, according to Statistics Finland.

According to Statistics Finland, industrial output adjusted for working days was 4.4 per cent higher in August 2019 than in August 2018.

Adjusted for working days, industrial output went up by 2.7 per cent in January to August from one year back.

Examined by main industry, seasonally adjusted industrial output grew most in August in the industry of mining and quarrying, by 8.3 per cent. Output also grew slightly in the chemical industry, by 0.6 per cent from the month before.

Output decreased in all other main industries from the month before. Among the main industries, the decline was steepest in electricity, gas, steam and air conditioning supply, 9.9 per cent, in the electrical and electronics industry, 2.8 per cent and in food industry, 0.8 per cent.

Revised data for August 2019 will be published at 8 am on 8 November 2019 in connection with the release of industrial output data for September 2019. 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 will also be adjusted for working days.