Industrial output drops by 3.2% in Jan but ups 4.5% year-on-year

Seasonally adjusted industrial output fell by 3.2 per cent in January from the month before but increased by 4.5 per cent compared to January 2021, according to Statistics Finland.

Examined by main industry, seasonally adjusted industrial output decreased in January in nearly all industries from the previous month.

Output grew slightly only in the food industry, by 1.6 per cent compared to December. Output fell most in electricity, gas, steam and air conditioning supply, by 13.7 per cent from the month before.

Output fell by 7.6 per cent in the forest industry, by 7.5 per cent in mining and quarrying, and by 3.2 per cent in the chemical industry from the month before.

Output grew in nearly all main industries compared to one year ago. The growth was strongest in the metal industry, 10.6 per cent compared to January 2021.

In mining and quarrying, output grew by 7.7 per cent and in the food industry by 4.3 per cent from the previous year.

Output decreased only in the forest industry, by 2.3 per cent, and in electricity, gas, steam and air conditioning supply, by 2.2 per cent compared to January 2021.