Industrial production decreased in March
A small growth which took place at the beginning of 2012 in manufacturing, was replaced with a decline in March – the production of manufacturing decreased by 5% compared to March of the previous year. The main reason for the decline was the high comparison basis in the manufacturing of electronic products. Among the branches of industry holding larger shares, the production in the manufacture of electronic, metal and chemical products fell by 26%, 21% and 10%, respectively. The production in the manufacture wood, food products and electrical equipment grew by 8%, 3% and 7%, respectively.
In March 2012 compared to February 2012, the seasonally adjusted total industrial production as well as manufacturing decreased by 3%.
Compared to March 2011, the production of electricity decreased by 26% and the production of heat by 5%. The decrease in electricity production was caused by partly replacement of own production with imports due to the low-price offer of hydroelectricity of Nordic countries.
The volume index and trend of production in manufacturing, January 2003 – March 2012 (2005 = 100)
| Economic activity | Change compared to the previous month according to seasonally adjusted dataa | Change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | -3.3 | -8.5 | -6.1 |
| Energy production | -12.0 | -18.7 | -18.7 |
| Mining | 4.6 | -4.2 | -4.2 |
| Manufacturing | -2.9 | -7.4 | -4.8 |
| manufacture of computer, electronic and optical products | -14.2 | -28.4 | -26.4 |
| manufacture of wood and wood products | 11.3 | 5.8 | 8.3 |
| manufacture of food products | -2.9 | 1.4 | 2.9 |
| manufacture of fabricated metal products | 5.9 | -24.1 | -21.1 |
| manufacture of electrical equipment | -0.1 | 7.0 | 7.0 |
| manufacture of chemicals and chemical products | -6.2 | -13.2 | -10.3 |
| manufacture of motor vehicles | -3.0 | -8.2 | -5.9 |
| manufacture of machinery and equipment | 1.4 | 14.1 | 18.5 |
| manufacture of furniture | 6.0 | -3.2 | -0.2 |
| manufacture of building materials | -1.2 | 2.5 | 5.6 |
a In case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
b In case of the working-day adjusted volume index of industrial production, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.