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Financial News: Amended: Finland Industrial Production Rises For Second Mo

Amended: Finland Industrial Production Rises For Second Month

05/08/2020 - 03:28:00 (RTTNews)

(RTTNews) - Finland's industrial production rose for the second straight month in March, figures from Statistics Finland showed on Friday.

Industrial production increased by a seasonally adjusted 1.9 percent month-on-month in March, following a 0.7 percent rise in February.

Manufacturing output rose 1.7 percent on a monthly basis in March, while output in mining and quarrying industry declined 8.6 percent.

Among industries, output grew in March most in the forest industry, by 39.6 percent and in the chemical industry, by 23.8 percent, which was partly driven by the pharmaceutical industry and increased demand for cleaning agents and disinfectants amid the coronavirus, or Covid-19, epidemic.

On an annual basis, industrial production rose a working-day adjusted 2.8 percent in March, following a 0.8 percent decrease in the preceding month.

Separate data from the statistical office showed that the new orders in manufacturing declined 9.3 percent annually in March, following a 5.8 percent fall in February.

During January to March period, orders decreased by 5.6 percent compared to the same period last year.

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