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Financial News: Finland's Industrial Output Rises For First Time In

Finland's Industrial Output Rises For First Time In 4 Months

09/10/2020 - 07:16:00 (RTTNews)

(RTTNews) - Finland's industrial production grew for the first time in four months in July, Statistics Finland reported Thursday.

Industrial production grew 0.9 percent month, offsetting a 0.9 percent drop in June. This was the first increase since March.

On a yearly basis, industrial output declined 6.1 percent in July. Output grew only in the chemical industry, by 1.0 percent from the last year. In other main industries output was falling.

The decrease was the strongest in mining and quarrying, where output declined by 22.4 percent annually. In electrical and electronics industry, output slid 11.2 percent and by 8.4 percent in the forest industry and by 8.1 percent in the metal industry from a year ago.

Output in the food industry decreased by 1.2 percent year-on-year in July.

During January to July, output went down by 3.3 percent from the year before, data showed.

Another report from Statistics Finland revealed that new orders in manufacturing plunged 28.5 percent year-on-year in July, bigger than the 14.7 percent fall logged in June. Orders have declined continuously for seven months.

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