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Financial News: Finland Industrial Production Growth Slows

Finland Industrial Production Growth Slows

07/08/2022 - 05:08:00 (RTTNews)

(RTTNews) - Finland's industrial production increased at a softer pace in May, mainly due to decline in manufacturing output, data from Statistics Finland showed on Friday.

Industrial production increased a seasonally adjusted 0.4 percent month-on-month in May, after a 3.4 percent rise in the prior month. In March, output decreased 1.3 percent.

Production in manufacturing decreased 0.2 percent monthly in May and increased 5.2 percent from a year ago.

Production in electricity, gas, steam and air conditioning supply grew 3.6 percent on month in June and output in mining and quarrying rebounded 2.9 percent.

On a yearly basis, industrial production rose a working-day adjusted 5.5 percent in May, after a 6.8 percent growth in April.

Separate data from the statistical office showed that the industrial orders grew 10.9 percent annually in June, after a 0.8 percent drop in April.

The chemical industry logged the biggest growth in orders at 33.4 percent.

During the January to May period, industrial orders advanced by 9.6 percent.

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