Industrial output drops by 3.9% in March

Seasonally adjusted industrial output (TOL BCD) decreased by 3.9 per cent in March from the month last year, according to Statistics Finland.

Industrial output adjusted for working days went down by 7.7 per cent compared to March 2023.

Total industrial output (BCD) decreased by 7.7 per cent year-on-year in March 2024.

The fall in output was affected by political industrial action and maintenance shutdowns.

Among the main industries, only mining and quarrying and the food industry had more output than in the previous month.

Adjusted for working days, industrial output (C) was 8.1 per cent lower in March than in March 2023. Compared to the previous month, output decreased by 3.0 per cent.

Industrial output decreased from the previous month in nearly all main industries examined in the chart. The fall was strongest in electricity, gas, steam and air conditioning supply (19.8%) and in the forest industry (9.4%).

Output grew only in mining and quarrying (14.1%) and in the food industry (2.7%).

Political industrial actions in March had an effect on the output figures. Industrial actions had the strongest impact on the forest industry.

In electricity, gas, steam and air conditioning supply, the fall in output was also caused by maintenance shutdowns that occurred in the same period.