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Financial News: Finland Industrial Production Drops In April

Finland Industrial Production Drops In April

06/10/2020 - 05:03:00 (RTTNews)

(RTTNews) - Finland's industrial production dropped for the first time in three months in April, figures from Statistics Finland showed on Wednesday.

Industrial production decreased by a seasonally adjusted 2.2 percent month-on-month in April, after a 2.3 percent rise in March.

Manufacturing output fell 2.3 percent on a monthly basis in April, while output in electricity, gas, steam and air conditioning remained unchanged.

Among industries, output declined the most in chemical industry in April, by 6.8 percent and in the forest industry and metal industry, by 2.9 percent and 2.2 percent, respectively.

On an annual basis, industrial production declined a working-day adjusted 3.1 percent in April, after a 3.3 percent increase in the preceding month.

Separate data from the statistical office showed that the new orders in manufacturing declined 13.0 percent annually in April, following a 10.3 percent fall in March. Orders declined for the fourth straight month.

During January to April period, orders decreased by 8.3 percent compared to the same period last year.

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