Industrial output slides in October

Seasonally adjusted industrial output fell in October by 2.3 per cent from the month before, according to Statistics Finland.

Industrial output adjusted for working days was 0.6 per cent lower in October 2022 compared to October 2021.

Output adjusted for working days last decreased in March 2021.

In October, industrial output adjusted for working days (BCD) fell from one year earlier for the first time in eighteen months.

Output fell from the previous month in all examined main industries.

Compared to the previous year, output increased only in the metal industry and the chemical industry.

Output in all examined main industries made a downturn from the month before

Adjusted for working days, industrial output increased by 0.6 per cent from one year earlier. Seasonally adjusted output fell by 1.2 per cent in October from the month before.

The fall was biggest in electricity, gas, steam and air conditioning supply, 10.7 per cent, and in mining and quarrying, 10.2 per cent. Output decreased by 6.6 per cent in the forest industry and by 3.9 per cent in the electrical and electronics industry compared to September. The fall was lowest in the metal industry, where output went down only by 0.1 per cent from the previous month.

Output also fell in nearly all examined main industries from one year ago. Output decreased most in mining and quarrying, by 29.6 per cent, due to several maintenance shutdowns, for example.

Output was 7.0 per cent lower in the forest industry and 5.9 per cent lower in the food industry than in October 2021. Output grew from the previous year only in two industries, in the metal industry by 4.8 per cent and in the chemical industry by 0.2 per cent.