Saturday 7/24/21
BUSINESS

Finland industrial production grew in May

The value of new orders in manufacturing was 45.2% higher in May 2021 than twelve months earlier
Industry-work-Yerson-Retamal-Pixabay
Photo: Pixabay.

Finland's industrial output adjusted for working days was 8%t higher in May from the same month one year before. Seasonally adjusted industrial output grew by 2.2% from the month before, figures from Statistics Finland showed on Friday.

Examined by main industry, seasonally adjusted industrial production grew in May in nearly all industries.

Screenshot 2021-07-09 at 08-59-08 Statistics Finland - Volume index of industrial output

Output in the electrical and electronics industry increased by 4.6%, in the food industry by 3.6% and in the forest industry by 3.1% from the month before.

Output decreased in May most in the industry of mining and quarrying (11.4%). But in electricity, gas, steam and air conditioning supply it was 2.8% lower than in April.

Output also grew in nearly all main industries from one year ago. It increased most (15%) in the metal industry. In the electrical and electronics industry, output in May was 11.4% higher and in the forest industry 11.2% higher year-on-year. Output decreased in May only in mining and quarrying (2.7%) and in electricity, gas, steam and air conditioning supply (1.1%) from May 2020.

New orders in manufacturing

According to Statistics Finland, the value of new orders in manufacturing was 45.2% higher in May 2021 than twelve months earlier.

During January to May, orders grew by 23.1% from the year before.

Screenshot 2021-07-09 at 08-57-30 Statistics Finland - New orders in manufacturing

Source: Statistics Finland.

Enterprises in all examined main industries received more orders in May than twelve months ago.

The growth was strongest in the metal industry, where the value of orders was 51.2% higher than in the previous year. In the paper industry new orders increased by 45.6% and in the chemical industry by 20% from one year ago.

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