Industrial output grows by 2.5% in May

Seasonally adjusted industrial output grew by 2.5 per cent in May from the month before, according to Statistics Finland.

Industrial output adjusted for working days also went up by 1.7 per cent compared to May 2022.

Output grew most strongly from one year ago in the industry of electricity, gas, steam and air conditioning supply.

In May, industrial output grew in several of the examined main industries. The industries with most growth were the electrical and electronics industry, 8.7 per cent, the chemical industry, 8.6 per cent, and electricity, gas, steam and air conditioning supply, 8.4 per cent.

The fall in output was strongest in mining and quarrying, down by 11.9 per cent compared to April. In the forest industry, output decreased by 2.4 per cent from the previous month and in the food industry by 1.2 per cent.

Compared to one year ago, output grew most strongly in electricity, gas, steam and air conditioning supply, by 13.3 per cent. In both the chemical industry and the electrical and electronics industry, output was 7.9 per cent higher than in May 2022.

Output decreased most in mining and quarrying, by 22.6 per cent, and in the forest industry, by 12.2 per cent.