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Industrial Production

Industrial output down over 3% for first half of 2015

Working day adjusted total industrial output for January through June of this year was 3.4% down from the same period of last year. However, mainly thanks to major shipbuilding contracts, new industrial sector orders jumped by more than 54% in June.

Mies työskentelee tehtaassa.
New shipbuilding orders were a rare bright spot in the industrial sector. Image: Jyrki Lyytikkä / Yle

Statistics Finland reports that output of total industries adjusted for working days was 1.1 percent lower in June 2015 compared to June 2014.

Industrial output in June went up in a few main industries. Output rose most, by 10 percent, in electricity production. In the chemical industry, output grew by 4.6 percent. Output also grew slightly in the forest industry.

Mining and quarrying declined most in June, by nearly 35 percent. This was mostly due to rainy weather, which hampered the production of peat.

While June industrial output was down year-on-year, it was up 1.2 percent over May of this year.

Thanks mainly to major shipbuilding contracts, new industrial sector orders jumped by more than 54 percent in June, pushing the value of industrial orders for the first six months of the year to around 9 percent higher than during the same period of 2014.