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Financial News: Finland Industrial Production Growth Highest In 5 Months

Finland Industrial Production Growth Highest In 5 Months

10/09/2020 - 03:19:00 (RTTNews)

(RTTNews) - Finland's industrial production rose for a second straight month and at the fastest pace in five months in August, Statistics Finland reported Friday.

Industrial production grew 2.0 percent month-on-month in August, following a 0.9 percent rise in July. Production rose for the second straight month.

The latest production was the highest since March, when it was 2.1 percent.

Manufacturing output rose 1.3 percent monthly in August, while electricity, gas, steam and air conditioning supply production fell 4.8 percent.

Among industries, production in electrical and electronics industry increased 13.4 percent. Production in mining and quarrying industry, and metal industry rose by 4.8 percent, each.

On a yearly basis, industrial output declined 2.4 percent in August, following a 6.2 percent fall in the previous month.

During January to August, output dropped by 3.1 percent from the year before, data showed.

Another report from Statistics Finland revealed that new orders in manufacturing declined 17.3 percent year-on-year in August, following a 28.5 percent fall in July. Orders have declined continuously for eight months.

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