Financial News: Finland Industrial Production Recovers Strongly In June

Finland Industrial Production Recovers Strongly In June

08/09/2024 - 02:55:00 (RTTNews)

(RTTNews) - Finland's industrial production increased for the first time in four months in June, largely driven by sharp output growth in the utility and chemical sectors, figures from Statistics Finland showed on Friday.

Industrial output rose 3.1 percent year-over-year in June, reversing a 5.8 percent contraction a month ago. Moreover, this was the sharpest expansion in fifteen months.

Among the main industries, output produced in the utility segment alone grew by 15.8 percent annually in June, and the chemical industry showed a surge of 10.2 percent.

Manufacturing production advanced 2.2 percent from last year, and that of the electrical industry was 6.8 percent higher. Meanwhile, mining and quarrying output showed a flat change.

On a monthly basis, industrial production rose 0.3 percent versus a 0.2 percent recovery in May.

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