Industrial output drops by 2.3% in Jan Y-on-Y

Seasonally adjusted industrial adjusted for working days went down by 2.3 per cent in January compared to January 2023, according to Statistics Finland.

Seasonally adjusted industrial output, however, grew by 2.5 per cent in January from the previous month.

Adjusted for working days, industrial output (C) was 5.5 per cent lower in January than one year earlier. Compared to the previous month, output grew by 1.1 per cent.

Among the main industries, only the metal industry showed a decline from the previous month.

Industrial output grew from the previous month in nearly all main industries examined in the chart.

The growth was strongest in the chemical industry (9.1%) and in mining and quarrying (8.2%).

Output in electricity, gas, steam and air conditioning supply grew by 5.6 per cent and in the electrical and electronics industry by 5.1 per cent from December 2023.

Output fell slightly only in the metal industry, by 1.6 per cent compared to the previous month.