Finland Industry


Finland: Industrial production contracts for fourth month in a row

January 10, 2013

In November, industrial production contracted a working-day adjusted 1.9% over the same month the previous year. The figure came in below the 0.3% decline seen in October and represents the fourth consecutive month of declining output.

The deterioration was broad-based. According to Statistics Finland, output in the electrical and electronics industry plunged 21.0% in November, which prompted the manufacturing sector to contract 2.4%, down from a 0.8% contraction in October. In addition, mining and quarrying as well as well as the electricity, gas, steam and air conditioning supply sectors deteriorated compared to October.

A month-on-month comparison corroborates the decline suggested by the annual data, as industrial output decreased a seasonally adjusted 0.5% in November, which contrasted the 0.6% increase observed in October.

Despite the negative annual reading, the annual average growth in industrial production remained stable at October's minus 1.2%.


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Finland Industry Chart

Finland Industry November 2012

Note: Month-on-month seasonally adjusted changes and annual average variation of industrial production index in %.
Source: Statistics Finland and FocusEconomics calculations.

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