HELSINKI: Working day adjusted change in total industrial output (BCDE) from corresponding month previous year, %, TOL 2008. Source: Volume Index of Industrial Output 2015, May. Statistics Finland.
Output of total industries adjusted for working days was 5.1 per cent lower in May 2015 than twelve months earlier, according to Statistics Finland. The industrial output declined by 4.7 per cent during January to May year-on-year. The seasonally adjusted output went down by 0.7 per cent in May from April. The seasonally adjusted output remained unchanged in April compared with March. It decreased by 0.3 per cent in March month-on-month.
Seasonally adjusted change in total industrial output (BCDE) from previous month, %, TOL 2008. Source: Volume Index of Industrial Output 2015, May. Statistics Finland. The industrial output diminished in all main industries in May. Output declined most, or by nearly 30 per cent, in mining and quarrying. The output in the metal industry fell by five per cent. In the chemical industry, output went down by 14.6 per cent in May from one year ago.
The drop is partially due to a service stoppage in oil refining. In May, capacity utilisation rate in manufacturing (C) was 79.9 per cent, or 1.1 percentage points lower than one year earlier, the data show. In the forest industry, capacity utilisation rate was 89.3 per cent in May, or 1.7 percentage points higher than in May 2014. In the metal industry, capacity utilisation rate was 80.1 per cent in May, which was 0.6 percentage points lower than one year earlier. Revised data for May 2015 will be published on 10 August, 2015 in connection with the release of industrial output data for June 2015.
