Industrial output in May falls

Seasonally adjusted industrial output (TOL BCD) fell by 1.2 per cent in May from the month before. According to Statistics Finland, industrial output adjusted for working days was 3.8 per cent lower in May 2020 than in May 2019. There were two working days fewer in May 2020 than in May 2019. During January to May, working day adjusted output went down by 1.7 per cent from the year before.

Examined by main industry, seasonally adjusted industrial output grew most in May in the electrical and electronics industry, by 8.2 per cent, and in the metal industry, by 1.3 per cent compared to the previous month.

Output fell most from the previous month in the chemical industry, 9.8 per cent, in mining and quarrying, 9.1 per cent and in the forest industry, 2.2 per cent.

Revised data for May 2020 will be published at 8 am on 10 August 2020 in connection with the release of industrial output data for June 2020. 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.