Industrial output drops by 2.7% December

Seasonally adjusted industrial output decreased by 2.7 per cent in December from the month before, according to Statistics Finland.

Industrial output adjusted for working days went down by 6.8 per cent compared to December 2022.

Adjusted for working days, industrial output was 9.1 per cent lower in December from one year earlier. Compared to the previous month, output decreased by 1.9 per cent.

Among the main industries examined in the figure, industrial output grew only in the food industry, by 1.9 per cent, and in the forest industry, by 0.6 per cent from the month before.

Output fell in all other main industries from the month before. The fall was biggest in the industry of mining and quarrying, 9.9 per cent, and in the electrical and electronics industry, 8.4 per cent.

Output in the metal industry decreased by 2.2 per cent and in the chemical industry by 2.1 per cent from November. Output in electricity, gas, steam and air conditioning supply went down by 0.7 per cent from the month before.

Industrial output also decreased from one year ago in nearly all main industries. Output fell most in the electrical and electronics industry, by 32.6 %. Output decreased by 10.4 per cent in the metal industry, by 9.3 per cent in mining and quarrying and by 8.3 per cent in the chemical industry compared to December 2022.

In the forest industry, output remained almost unchanged, falling by 0.3 per cent from one year ago. Output was higher than in the year before only in electricity, gas, steam and air conditioning supply, up by 6.0 per cent, and in the food industry, up by 1.3 per cent.