(RTTNews) - Finland's industrial production increased a working day adjusted 6.2% year-on-year in November, Statistics Finland said Monday. This follows a revised 10.8% rise in October.Data also showed that month-on-month, output fell 1% after adjusting for seasonal variations. This follows a downwardly revised 1.3% growth in the previous month. The initial estimate showed a 1.5% monthly increase for October.
The strongest increase in output was recorded in energy industry, the statistical office said. Production in energy industry grew 14% year-on-year and output in metal industry, excluding electrical and electronic industry, surged 13.8%.
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Finnish Industrial Output Growth Eases In November
(RTTNews) - Finland's industrial production increased a working day adjusted 6.2% year-on-year in November, Statistics Finland said Monday. This follows a revised 10.8% rise in October.
The earlier estimate showed an increase of 11.3% for the previous month. However, production increased for a seventh consecutive month.
Data also showed that month-on-month, output fell 1% after adjusting for seasonal variations. This follows a downwardly revised 1.3% growth in the previous month. The initial estimate showed a 1.5% monthly increase for October.
The strongest increase in output was recorded in energy industry, the statistical office said. Production in energy industry grew 14% year-on-year and output in metal industry, excluding electrical and electronic industry, surged 13.8%.
In the January to November period, industrial output grew 5.4% compared to same month of the previous year. Capacity utilization rate in Finnish manufacturing industry was 78.3% during the month, which was 6.4 percentage points higher than a year earlier.
A separate release from the statistical office showed that the value of new orders in manufacturing increased 26.7% annually in November compared to a 27.3% growth in October. The October figures has been revised from a 27% rise reported earlier.
The cumulative growth of new orders for the first eleven months of the year was 23.7% compared to the same period of the previous year.
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