Saturday 11/28/20
BUSINESS

Finnish industrial output contracted again

 Output in both the forest industry and in electricity, gas, steam and air conditioning supply declined by 7.2% compared with the previous year.

Finnish industrial production fell again in September, both when compared with the previous month and with the results of a year ago.

According to Statistics Finland, seasonally adjusted industrial output fell by 2.1% in September from August. The production adjusted for working days was 6% lower compared to September 2019. 

In accumulated figures, so far this year (January-September) industrial production fell 3.5% compared to the same period in 2019.

Industrial-output-September-2020

Source: Statistics Finland.

By industry

Examined by main industry and compared with the previous month, seasonally adjusted industrial output grew most in the industry of mining and quarrying, by 20.9%.

In all other main industries, output either fell or grew only a little. Output decreased most in electricity, gas, steam and air conditioning supply (7.9%) and in the electrical and electronics industry (7.3%) from August.

Industrial-output-September-2020-by-industry

Source: Statistics Finland.

Compared with the previous year, output grew in September somewhat only in the chemical industry, by 0.7%. The fall was still strongest in mining and quarrying, where output declined by 17.1% from one year back.

Output in both the forest industry and in electricity, gas, steam and air conditioning supply declined by 7.2% compared with September 2019.

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