Month-on-month industrial output grows in Aug

Seasonally-adjusted industrial output (TOL BCD) grew by 2.0 per cent in August from that in the month before, according to the Statistics Finland.

The industrial output adjusted for working days, however, was 2.4 per cent lower in August 2020 than in August 2019.

Adjusted for working days, industrial output went down by 3.1 per cent in January to August from one year back.

Examined by main industries, the seasonally-adjusted industrial output grew most in August in the electrical and electronics industry, by 13.4 per cent in the previous month.

Output grew in mining and quarrying and in the metal industry by 4.8 per cent compared with that in July. The decline in output was strongest in electricity, gas, steam, and air conditioning supply, where output decreased by 4.8 per cent from the month before.

In the forest industry, the fall amounted to 2.2 per cent and in the chemical industry to 1.0 per cent compared with the output in July.

Among the main industries, the output in electrical and electronics industry also grew most year on year, by 13.6 per cent.

The fall was still strongest compared to one year back in mining and quarrying, where output declined by 26.8 per cent. In the forest industry, output decreased by 11.0 per cent and in the chemical industry by 4.0 per cent compared with that in August 2019.