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Financial News: Finland Industrial Production Falls In July

Finland Industrial Production Falls In July

09/09/2022 - 03:50:00 (RTTNews)

(RTTNews) - Finland's industrial production declined in July, after rising in the previous three months, data from Statistics Finland showed on Friday.

Industrial production fell a seasonally adjusted 2.4 percent month-on-month in July, reversing a 1.1 percent increase in the prior month.

Among sectors, production fell the most in electricity, gas, steam, and air conditioning supply segment, by 5.9 percent. This was followed by a 1.6 percent decrease in manufacturing output.

Meanwhile, output produced in the mining and quarrying sector was 6.8 percent higher compared to June.

On a yearly basis, industrial production growth eased sharply to 2.8 percent in July from 8.4 percent in the preceding month.

Separate data from the statistical office showed that manufacturing new orders fell 5.0 percent annually in July, in contrast to an 8.7 percent gain in June.

The metal industry logged the biggest decline in orders at 11.7 percent.

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